Country Tata Motors Passenger Vehicles Limited (TMPV), the leading automobile company, has released the financial results for the third quarter of the current financial year. Tata Motors said that during this period the company has registered a net loss of Rs 3483 crore. Tata Motors’ results have been seriously impacted by the cyber incident at its luxury auto unit Jaguar Land Rover (JLR). Let us tell you that Tata Motors had registered a consolidated net profit of Rs 5485 crore in the third quarter of the last financial year. Tata Group company TMPV said in the information given to the stock market on Thursday that its integrated operating income also declined to Rs 70,108 crore in the quarter under review, which was Rs 94,472 crore in the same period a year ago.
The company had to bear extraordinary expenses of Rs 1600 crore
Total expenses of Tata Motors Passenger Vehicles in the third quarter of the current financial year stood at Rs 74,880 crore, as against Rs 89,698 crore in the same quarter a year ago. According to the company, it had to bear extraordinary expenses totaling Rs 1600 crore in the last quarter. This includes Rs 800 crore related to the cyber incident at JLR, Rs 400 crore due to the implementation of new labor laws and Rs 400 crore on stamp duty. Tata Motors Passenger Vehicles said the impact of the cyber incident at British unit JLR continued throughout the quarter. However, its performance in the domestic market was better on a quarterly basis. Domestic business was also supported by higher sales volumes and incentives.
The company’s shares closed with a slight decline on Thursday
There was a slight decline in the company’s shares on Thursday. Shares of Tata Motors Passenger Vehicles closed at Rs 374.15 with a loss of 0.33 per cent (Rs 1.25) on BSE. Yesterday, the company’s shares ranged from an intraday low of Rs 364.25 to an intraday high of Rs 375.40. Shares of Tata Motors Passenger Vehicles have been declining for a long time. Since the demerger, the company’s shares have reached a 52 week low of Rs 335.30, while its 52 week high is Rs 459.67. According to BSE data, the current market cap of Tata Motors Passenger Vehicles is Rs 1,37,774.43 crore.
Latest Business News