New Delhi: Auto sector giant Tata Motors has released the results of the fourth quarter. The company has incurred a loss of Rs 7,605 crore during January to March. The main reason for this is the heavy right-off related to Jaguar Lad Rover (JLR), making the company's losses higher than anticipated.
Similarly, last year also, the company had incurred a loss of Rs.9,894 crore due to right-off of JLR's property. Jaguar's right off came because it cancelled its model. The luxury car company has suffered losses in several important markets due to corona infection and lockdown. However, the company has made a total profit of Rs 1,646 crore standalone in the March quarter. 4,871 crore in the same quarter a year ago.
The auto company earned Rs 88,628 crore from operations in the March quarter, an increase of 41.7% over the same quarter last year. 62,492 crore. Tata Motors' operating profit i.e. Abeta stood at Rs 1,27,000 crore. The consolidated net loss of Tata Motors during the financial year 2020-21 has been recorded at Rs 13,395.10 crore.