Mumbai: Indian automobile giant Tata Motors has managed to narrow down its net loss in the quarter ended March 2021 on recovery in domestic demand.
The company has reported a consolidated net loss of Rs.7605 crore for the Jan-March quarter, against a loss of Rs.9894.2 crore in the corresponding period last year.
The automobile giant has reported consolidated revenue of Rs 88,628 crore for the fourth quarter, up 42 per cent from the revenue of Rs 62,492 crore clocked in the same quarter last year.
However, the company expects a weak April-June quarter FY22 owing to lockdowns across India and semi-conductor scarcity worldwide.
“While demand remains strong, the supply situation over the next few months is likely to be adversely impacted by disruptions from COVID-19 lockdowns in India and semi-conductor shortages worldwide. We expect Q1 FY22 to be relatively weak due to this as well as rising commodity inflation and expect to improve gradually from the second quarter. The business has demonstrated strong resilience in the face of adversity and its fundamentals are strong. We will remain agile to address these challenges and drive consistent, competitive and cash accretive growth over the medium to long term” Tata Motors said.