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BENGALURU: Tata Motors posted a wider quarterly loss on Monday, as semiconductor shortages and excessive commodity costs dented gross sales and manufacturing for the carmaker.
World carmakers have warned of prolonged ache and have taken sharp manufacturing cuts this yr as provide chain disruptions and booming demand for client electronics have led to an acute scarcity of chips important in powering digital gadgets.
Tata Motors, which had already warned that it anticipated shortages within the second quarter to be higher than within the first, had mentioned final month it noticed semiconductor shortages progressively easing over the subsequent 12 months.
There are vital challenges on the provision facet, together with semi-conductor points and sharp commodity inflation, Tata Motors mentioned in an trade submitting on Monday.
Retail gross sales at JLR, which accounts for many of Tata Motors’ income, have been down 18.4% from a yr earlier because the semiconductor shortages harm manufacturing.
Nonetheless, income rose 14.7% to Rs 61,379 crore within the quarter ended September 30.
Tata Motors logged a consolidated web lack of Rs 4,442 crore ($593.02 million) for the quarter, in contrast with a lack of Rs 3,140 crore a yr earlier.
World carmakers have warned of prolonged ache and have taken sharp manufacturing cuts this yr as provide chain disruptions and booming demand for client electronics have led to an acute scarcity of chips important in powering digital gadgets.
Tata Motors, which had already warned that it anticipated shortages within the second quarter to be higher than within the first, had mentioned final month it noticed semiconductor shortages progressively easing over the subsequent 12 months.
There are vital challenges on the provision facet, together with semi-conductor points and sharp commodity inflation, Tata Motors mentioned in an trade submitting on Monday.
Retail gross sales at JLR, which accounts for many of Tata Motors’ income, have been down 18.4% from a yr earlier because the semiconductor shortages harm manufacturing.
Nonetheless, income rose 14.7% to Rs 61,379 crore within the quarter ended September 30.
Tata Motors logged a consolidated web lack of Rs 4,442 crore ($593.02 million) for the quarter, in contrast with a lack of Rs 3,140 crore a yr earlier.
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