Tata Motors reported a narrowing net loss at Rs 992.05 crore in the fourth quarter.
New Delhi:
Shares of Tata Motors rose more than 8 percent in early trading on Friday, a day after the company reported narrowing its consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022.
The stock rose 8.30 percent to Rs 403 on the BSE.
On the NSE, it zoomed 8.31 percent to Rs 403.25 apiece.
Homegrown Tata Motors on Thursday reported a narrowing of its consolidated net loss of Rs 992.05 crore in the fourth quarter ending March 2022, amid challenges from a semiconductor shortage and rising inflation.
The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal year, Tata Motors said in a regulatory filing.
Total consolidated revenue from operations was Rs 78,439.06 crore in the fourth quarter, up from Rs 88,627.90 crore in the same period a year ago, it added.
On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the reporting period, compared to a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.
The standalone total operating income was Rs 17,338.27 crore in the fourth quarter, compared to Rs 13,480.42 crore in the same period of the previous fiscal, Tata Motors said.
“The main highlight of this particular quarter has been the sequential recovery we have seen across all businesses, despite the semiconductor and inflation challenges we have had,” said Tata Motors Group CFO PB Balaji in an earnings call.
