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JLR Pulls Tata Motors Down Into A Loss Of Rs. 1902 Crore In First Quarter
car&bike Team
Aug 1, 2018, 10:45 AM
Indian automaker Tata Motors reported a consolidated net loss of Rs. 1902.4 crore in the first quarter of FY2019. The company had posted a net profit of Rs. 3199 crore during the same quarter last year. The company announced that it was hit by losses at its UK subsidiary Jaguar Land Rover (JLR) and higher raw material costs. Having largely been Tata's cash cow over the years, this is the company's first quarterly loss in three years. The luxury brand reported a loss of 210 million Pounds (around Rs. 1900 crore) between April and June 2018, which was attributed to a number of factors primarily being the duty reduction in China last month.
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