In the quarter ended December 31, 2021, Tata Motors saw a consolidated loss of Rs. 1,451 crores. The company’s total revenue for Q3 FY22 stood at Rs. 72,229 crore, a decline of 4.5 per cent compared to the same quarter of FY21.
see photosTata Motors’ Q3 FY22 revenue stood at Rs. 72,229 crore, down 4.5% over Q3 FY2021
Tata Motors has released the financial results for the third quarter of the financial year 2021-22. In the quarter ended December 31, 2021, the domestic automaker saw a consolidated loss of ₹ 1,451 crore. In comparison, the company reported a profit of ₹ 2,941 crore for the same period during the previous financial year. The company’s total revenue for Q3 FY22 stood at ₹72,229 crore, which is a decline of 4.5 per cent as compared to the revenue of ₹75,654 crore that was achieved in FY2021 between October and December period.
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Tata Motors Ltd. said sales of its luxury car brand, Jaguar Land Rover, were hampered by chip shortages, with retail sales witnessing a decline of 37.6 units in Q3 FY11 to 80,126 units. At the same time, the total revenue from JLR stood at GBP 4.7 billion (₹47,093 crore), an increase of about 22 per cent compared to the second quarter of FY22. JLR says that the chip supply position is gradually improving and the production volume has reached 72,184 units, up 41 per cent from the second quarter of FY22. Earnings before interest and tax (EBIT) margin was up 1.4 percent, and free cash flow in Q3 of FY22 was positive at 164 million GBP.
Total revenue from JLR stood at GPB 4.7 billion (₹47,093 crore), an increase of about 22 per cent over Q2 FY22.
Thierry Bollor, CEO of Jaguar Land Rover, said, “While semiconductor supplies continued to disrupt sales this quarter, we continue to see very strong demand for our products, underscoring the desirability of our vehicles. Global order book record and has grown to an incredible 30,000 units for the New Range Rover before the commencement of deliveries this quarter.”
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Tata Motors’ standalone business, including joint operations, posted a loss of ₹ 351 crore between the period October and December 2021. In comparison, the company reported a much higher loss of ₹638 crore during the same quarter of FY21. The company’s revenue for the previous quarter stood at ₹ 20,959 crore, which was a massive increase of 43.3 per cent as compared to ₹ 14,631 crore revenue generated in Q3 FY2021. Tata Motors’ wholesale sales (including exports) grew 30.4 per cent to 200,212 units in Q3FY22.
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Tata Motors wholesales (including exports) up 30.4 per cent to 200,212 units in Q3FY22
Commenting on the company’s performance, Girish Wagh, Executive Director, Tata Motors said, “At Tata Motors, our agility in both planning and execution helped us optimize production to deliver another strong quarter with accelerated sales. We continue to grow market share in every segment. We set several new milestones in commercial vehicles and passenger vehicles, with decade-high sales for both the quarter as well as calendar year 2021. We reported the highest number of EV sales during the quarter. Also registered sales and sold 10,000 EVs in the first 9 months of FY 2022, crossing new milestones.”
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During the first nine months of FY2022, Tata Motors saw a consolidated loss of ₹10,317 crore. In comparison, the company posted a loss of ₹ 5,810 crore during the corresponding April-December period in FY21. The company’s total for 9M FY22 stood at ₹200,015 crore, which was 24 per cent higher than ₹161,167 crore revenue generated during the corresponding period of the previous financial year.
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