Tata Motors shares shed more than 3 per cent to trade near intra-day lows, despite a strong market, after the automobile major posted a consolidated net loss of Rs 9,894 crore for the fourth quarter ended March 2020 on the back of weak demand and coronavirus-induced lockdown. At 10:00 am, the shares were trading at Rs 96.85, lower by 3.7 per cent, on the BSE, after touching a low of Rs 96.55.
Tata Motors posted a consolidated net loss of Rs 9,894 crore for the fourth quarter (January-March), the company said post market hours on Monday. Tata Motors had reported a profit of Rs 1,117 crore in the corresponding quarter last year. The company’s total revenue from operations fell 27.7 per cent to Rs 62,493 crore during the quarter.
The Jaguar Land Rover (JLR) segment of Tata Motors reported a loss of 501 million pound at profits before tax (PBT) level for the quarter.
The Sensex traded 662.64 points – or 1.99 per cent – higher at 33,891.44, while the Nifty was up 195.50 points – or 1.99 per cent – at 10,009.20.