Growth In Sales Of Tata Motors, Sub-brand Jaguar Land Rover Reduced The Company's Losses
Tata Motors has released its sales report for the second quarter of this year. From July to September, Tata saw good growth in sales, due to which the company's net loss has come down to Rs 945 crore.This growth has been driven by domestic sales of the marquee brand Jaguar Land Rover as well as strong sales of commercial vehicles.
Tata Motors has released its sales report for the second quarter of this year. From July to September, Tata saw good growth in sales, due to which the company's net loss has come down to Rs 945 crore.
This growth has been driven by domestic sales of the marquee brand Jaguar Land Rover as well as strong sales of commercial vehicles.
Tata's losses come down
Looking at the net loss of Tata Motors, in the second quarter of the last financial year, the company reported a loss of Rs 4,442 crore. At the same time, the consolidated net loss was Rs 4,416 crore during this period, which has come down to Rs 898 crore between July and September this year. The company's losses have also come down on a standalone basis. It has come down to a consolidated loss of Rs 293 crore as against Rs 659 crore a year ago.
Tata's growth in net income
According to the data of the sales report, positive growth has been seen in the total income of Tata in the second quarter. Tata Motors said in a regulatory filing that the company's total income in the quarter sales increased to Rs 80,650 crore as against Rs 62,246 crore in the year-ago period. Thus, the total income increased to Rs 15,142 crore in the second quarter from Rs 11,197 crore in the corresponding period of last year. Such positive growth has played an important role in reducing Tata's net loss.
Vehicle sales increased revenue
The entire credit for the increase in the sales of the second quarter goes to the bumper sale of the vehicles. According to Tata Motors, the passenger vehicles business has witnessed tremendous wholesale sales of 1,42,755 vehicles, up 69 percent year-on-year. At the same time, the business of commercial vehicles has registered a growth of 15 percent on a yearly basis.
Its sub-brand Jaguar Land Rover (JLR) has helped Tata the most in reducing losses. Jaguar alone posted revenue of £5.3 billion in the second quarter, a 36 percent increase from last year. Jaguar's wholesale sales during the July-September period achieved a total of 75,307 units, an increase of around 17.6 percent. In this way, the brand has got profit in retail as well as wholesale.
Expected continuous improvement in sales- JLR
Noting Tata's strong second-quarter sales, Thierry Boller, CEO, of JLR, said, "Demand for our most popular vehicles continues to be strong and we expect to continue to improve our performance in the second half of the year. The improvement in shortages is reflected in the new agreement, which enables the company to manufacture and deliver more vehicles to customers."