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Tata Motors Q2 loss at Rs 314.5 crore, revenue down 18% but beats estimates

Consolidated revenue fell 18.2 percent year-on-year to Rs 53,530 crore in Q2FY21 due to a decline in commercial vehicle and JLR volumes.

October 28, 2020 / 07:41 PM IST

Tata Motors, the country's largest commercial vehicle maker and owner of luxury car brand Jaguar Land Rover, posted a consolidated loss of Rs 314.5 crore in the quarter ended September 30 but the figure was better than CNBC-TV18 poll estimate of Rs 1,290 crore loss.

The company had reported a loss of Rs 216.56 crore in the September quarter of 2019.

The company's consolidated revenue fell 18.2 percent year-on-year to Rs 53,530 crore in Q2FY21 due to decline in commercial vehicle and JLR volumes.

"Despite concerns around the risk of a second wave of infection in many countries and other geopolitical risks, we expect a gradual recovery of demand and supply in the coming months," Tata Motors said in a BSE filing.