AVN 64.74 Decreased By ▼ -0.26 (-0.4%)
BAFL 31.23 Increased By ▲ 0.08 (0.26%)
BOP 4.82 Increased By ▲ 0.11 (2.34%)
CNERGY 3.86 Decreased By ▼ -0.02 (-0.52%)
DFML 14.11 Increased By ▲ 0.41 (2.99%)
DGKC 41.69 Increased By ▲ 0.42 (1.02%)
EPCL 46.36 Decreased By ▼ -0.33 (-0.71%)
FCCL 11.41 Decreased By ▼ -0.01 (-0.09%)
FFL 5.06 Increased By ▲ 0.02 (0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 9.92 Decreased By ▼ -0.03 (-0.3%)
HUBC 64.23 Increased By ▲ 0.13 (0.2%)
HUMNL 5.61 Decreased By ▼ -0.04 (-0.71%)
KAPCO 27.84 Increased By ▲ 0.04 (0.14%)
KEL 2.15 Increased By ▲ 0.02 (0.94%)
LOTCHEM 24.52 Increased By ▲ 0.22 (0.91%)
MLCF 21.75 Increased By ▲ 0.35 (1.64%)
NETSOL 84.19 Decreased By ▼ -0.01 (-0.01%)
OGDC 87.30 Decreased By ▼ -0.64 (-0.73%)
PAEL 10.95 Increased By ▲ 0.05 (0.46%)
PIBTL 4.24 Increased By ▲ 0.06 (1.44%)
PPL 76.63 Decreased By ▼ -1.07 (-1.38%)
PRL 13.69 Increased By ▲ 0.07 (0.51%)
SILK 0.90 Increased By ▲ 0.01 (1.12%)
SNGP 41.52 Decreased By ▼ -0.41 (-0.98%)
TELE 5.95 Increased By ▲ 0.08 (1.36%)
TPLP 15.77 Decreased By ▼ -0.01 (-0.06%)
TRG 111.25 Decreased By ▼ -1.05 (-0.93%)
UNITY 13.92 Decreased By ▼ -0.03 (-0.22%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 4,046 Decreased By -1.8 (-0.05%)
BR30 14,434 Decreased By -33.1 (-0.23%)
KSE100 40,620 Decreased By -53.1 (-0.13%)
KSE30 15,170 Decreased By -20 (-0.13%)
Follow us

MUMBAI: India's Tata Motors, the owners of the Jaguar and Land Rover brands, reported a fourth consecutive quarterly loss Monday, weighed down by higher commodity prices and the global chip shortage.

Microchips are a key component in car manufacturing but automakers around the world have been hamstrung by limited supplies due to semiconductor production cuts during the pandemic.

The Mumbai-headquartered firm reported a net loss of 15.2 billion rupees ($203 million) in the three months to December 31, it said in a statement, compared to a net profit of 29.1 billion rupees a year earlier.

"The auto industry continued to witness rising demand in most segments even as the supply of semiconductors remained restricted resulting in adverse impact on production," Tata Motors' executive director Girish Wagh said in a statement.

Tata Motors says EV waiting period at six months on chip shortage

"The semiconductor supply situation is improving gradually whilst inflation worries persist," the company added.

Operational revenue slipped 4.5 percent to 722.3 billion ($9.7 billion) from a year earlier.

Retail sales for Tata Motors' British subsidiary, Britain's biggest carmaker Jaguar Land Rover, were "significantly constrained by chip shortages and low inventories" and fell 37.6 percent year-on-year.

But the company's India business saw revenue rise by 43.3 percent on the corresponding period, with sales up across all vehicle segments.

Its electric-vehicle arm reported a new quarterly sales high of 5,592 cars.

Shares in Tata Motors closed 4.04 percent higher at the end of Monday's trade in Mumbai ahead of the earnings announcement.

Comments

Comments are closed.

India's Tata Motors in the red over chip shortages

Former interior minister Sheikh Rashid arrested

'Higher than expectations': Pakistan's headline inflation clocks in at 27.6% in January

Rupee sustains losses, settles at 268.83 against US dollar

Fawad Chaudhry released from Adiala jail

Imran says governor KP's letter to ECP regarding delay in polls raises 'suspicions’

Cannot rule out internal assistance for Peshawar bombing: police

Peshawar attack: ‘Who brought the terrorists back?’, asks PM Shehbaz

Adani abandons $2.5 billion share sale in big blow to Indian tycoon

Hyundai-Nishat jacks up car prices by up to Rs500,000 in Pakistan

Maryam Nawaz says PML-N will clean sweep upcoming elections