Homegrown auto major Tata Motors on Thursday reported narrowing of its consolidated net loss to Rs 992.05 crore during the March 2022 quarter. It had posted a net loss of Rs 7,585.34 crore in the corresponding quarter last year. The company’s total revenue from operations during January-March 2022 stood at Rs 78,439.06 crore.
Its total income during the fourth quarter ended March 31, 2022, fell to Rs 79,341.61 crore, compared with Rs 89,319.34 crore a year ago.
Girish Wagh, Executive Director Tata Motors Ltd said, “The Indian Commercial Vehicles sector, deeply impacted for two successive years, showed promising signs of growth in FY22 supported by a steady recovery in the economy, rising industrial activity and reopening of markets. At Tata Motors, the early adoption of a holistic ‘Business Agility Plan’ enabled us to protect and serve the interests of our customers, dealers and suppliers as well as smartly manage supply related challenges including the global shortage of critical electronic parts.”
He added that the improvement in consumer sentiment, buoyancy in e-business, firming freight rates, reopening of schools and offices and higher infrastructure spends in road construction and mining helped regenerate demand.
The company had posted a consolidated net loss of Rs 1,451.05 crore in the third quarter ended December 31, 2021. Its consolidated revenue from operations had stood at Rs 72,229.29 crore in the third quarter.