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Tata Motors registers loss in Q2

by BQ News Bureau
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Tata Motors reported a consolidated loss of Rs 314.5 crore for the second quarter ended September 30, owing to low demand during the Corona pandemic. The company had a net loss of Rs.216.56 crore last year and Rs 8,437.99 crore in June quarter of this fiscal. The consolidated revenue dropped by 18.2 per cent Q2 in FY21 as against Rs.65,431.95 crore in Q2 in the last fiscal.

Jaguar Land Rover ended the second quarter of fiscal 2020/21 with solid liquidity of £5 billion, comprising over £3.0 billion of cash and short-term investments and a £1.9 billion undrawn revolving credit facility. The company has since completed a $700 million five-year unsecured bond issued in October 2020, increasing pro forma liquidity to £5.5 billion.

A gradual improvement in sales is expected to continue and will be supported by new and refreshed products, including the short wheel-base Land Rover Defender 90, the refreshed Jaguar F-PACE as well as 2021 model year Range Rover Velar, Jaguar XF and Jaguar XE. Furthermore, Jaguar Land Rover continues to expand its offering of electrification across its model range. Of the 13 nameplates in the company’s product portfolio, seven have now been revealed with plug-in hybrids and nine with mild-hybrids, in addition to the full battery electric Jaguar I-PACE. One more PHEV and two more MHEVs are expected to be launched later this fiscal. Although the outlook remains uncertain as a result of Covid-19 and questions over future UK / EU trading arrangements, Jaguar Land Rover expects the recovery in sales, revenue, and profitability to continue in the second half of Fiscal 2020/21, supported by project charge.

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