BREAKING NEWS

JLR parent Tata Motors posts smaller-than-expected quarterly loss

JLR parent Tata Motors posts smaller-than-expected quarterly loss
FILE PHOTO: A Tata Tigor car is pictured at the assembly line inside the Tata Motors car plant in Sanand, on the outskirts of Ahmedabad, India, August 7, 2018. REUTERS/Amit Dave -
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AMIT DAVE(Reuters)
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BENGALURU (Reuters) – Jaguar Land Rover owner Tata Motors <TAMO.NS> reported a smaller-than-expected loss in the second quarter on Friday, as sales of the luxury car picked up in China, amid slowing demand for passenger and commercial vehicles in the home market.

Net loss for the three months ended Sept. 30 narrowed to 2.17 billion rupees (£23.86 million) from 10.49 billion rupees a year ago. Revenue fell 9% to 654.32 bln rupees.

Analysts on average expected the company to lose 15.5 billion rupees, according to Refinitiv data.

Mumbai-based Tata Motors reported retail sales of 128,953 JLR cars during the quarter, down 0.7% from a year ago.

(Reporting by Derek Francis in Bengaluru; Editing by Arun Koyyur)

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