New Delhi, Aug 1 (PTI) Shares of Tata Motors today dropped over 6 per cent after the company reported a consolidated net loss of Rs 1,862.57 crore for the first quarter ended June 30. Also Read - China Building Makeshift Hospital For Pakistan to Treat Coronavirus Patients
The stock tumbled 6.11 per cent to Rs 248 on BSE. It was the worst hit among the 30-Sensex blue chips. Also Read - China's Coronavirus-hit Hubei Province Begins Domestic Flights
On NSE, shares of the company dropped 5.33 per cent to Rs 250. Also Read - Coronavirus: No Discussion in UNSC on COVID-19 Outbreak as China Blocks Estonia's Proposal
Tata Motors group yesterday reported a consolidated net loss of Rs 1,862.57 crore for the first quarter ended June 30, dragged down by multiple challenges that its British arm JLR faced in major markets, including China, UK, Europe and the US.
The company had reported a net profit of Rs 3,199.93 crore in the April-June quarter of 2017-18.
Total revenue from operations, however, rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period, Tata Motors said in a regulatory filing.
On standalone basis, the company reported a net profit of Rs 1,187.65 crore. It had reported a net loss of Rs 463.14 crore in the first quarter last fiscal.