Shares Of Tata Motors Zoom Over 10 Per Cent After Q4 Earnings
Tata Motors reported narrowing of its consolidated net loss at Rs 992.05 crore in the fourth quarter ended March, on Thursday
New Delhi: A day after Tata Motors reported narrowing of its consolidated net loss at Rs 992.05 crore in the fourth quarter ended March, the shares of the automaker rallied over 10 per cent on Friday.
During early trade, the stock rose 8.30 per cent to Rs 403 on the BSE, while on the NSE, it spiked 8.31 per cent to Rs 403.25 per share.
At 1 pm, the shares were trading 10.24 per cent higher at Rs 410.20 on the BSE.
The home-grown auto major on Thursday clocked shrinking of its consolidated net loss, amid disruptions in supply of semiconductors and soaring inflation.
Tata Motors said in a regulatory filing that the company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last financial year.
Total consolidated revenue from operations stood at Rs 78,439.06 crore in Q4, as against Rs 88,627.90 crore in the year-ago period, it added.
The automaker, on a standalone basis, posted a net profit of Rs 413.35 crore in the period under review, as against a net profit of Rs 1,645.68 crore in the fourth quarter of FY20-21.
While standalone total revenue from operations stood at Rs 17,338.27 crore in the fourth quarter, as compared to Rs 13,480.42 crore in the same period of the previous fiscal year, the company said.
In an earnings call, Tata Motors Group CFO P B Balaji said, “The key highlight of this particular quarter is the sequential recovery that we saw across all businesses, despite the challenges that we had on semiconductors and inflation.”
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