Tata Motors Q1, losss of Rs 329 cr

by khalid on 06/09/2009 · 0 comments

Tata

Tata Motors accounted a consolidated net loss of about Rs 329 crore for the Q1 of the current fiscal 09-10, as compared to a profit of around Rs 720 crore in the same period last year 08-09.
The prime cause for the loss is the lower sales of its British brands Jaguar and Land Rover (JLR) for the first quarter due to the global downtrend. The new versions of JLR will be available in the second half of the fiscal 2009 and are expected to raise the sales of the company.

Tata Motor’s net sales for the first quarter increased by 13% to Rs 16,290 crore. It has returned $150 million out of the $1 billion bridge loan invested in the month of May this year, that loan was taken to purchase JLR.

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