JLR owner Tata Motors posts quarterly loss

Credit: REUTERS/Michaela Rehle

BENGALURU, Jan 31(Reuters) - Jaguar Land Rover (JLR) owner Tata Motors TAMO.NS reported a loss for the third quarter on Monday, as semiconductor shortages crimped the Indian automaker's ability to take advantage of the pandemic-driven demand for personal vehicles.

Consolidated net loss came in at 15.16 billion rupees ($203.23 million) for the quarter ended Dec. 31, compared to a profit of 29.06 billion rupees a year earlier when an easing of coronavirus-related restrictions had led to a pick-up in sales.

However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses.

($1 = 74.5950 Indian rupees)

(Reporting by Chandini Monnappa in Bengaluru; Editing by Shounak Dasgupta)

((Chandini.M@thomsonreuters.com; +918061822697))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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