Medilytix Bureau:
India’s largest automaker Tata Motors on Monday reported a loss of Rs 1,516 crore (attributable to shareholders) for the quarter ending 31 December, 2021, as semiconductor shortages crimped the Indian automaker’s ability to take advantage of the pandemic-driven demand for personal vehicles.
The firm had posted a net profit of Rs 2,906 crore a year earlier when an easing of coronavirus-related restrictions had led to a pick-up in sales. Sequentially, the automaker’s loss narrowed from Rs 4,412 crore in the second quarter of this fiscal year.
However, the recovery was short-lived as acute semiconductor shortages and supply chain disruptions delayed production, and Tata Motors slipped back to losses.
Tata Motors’ consolidated total revenue from operations declined nearly 5 per cent to Rs 72,229 crore versus Rs 756,54 crore from a year ago.
Meanwhile, the consolidated EBITDA, or earnings before interest, taxes, depreciation, and amortization margin stood at 12 per cent.
On a standalone basis, the automaker reported a net profit of Rs 175.85 crore in the period under review as against a net loss of Rs 638.04 crore in the third quarter of 2020-21 fiscal.