In the national market, total sales of Tata Motors PV sales decreased by 29% in Q1 to 42,034 units in the first quarter.
NEW DELHI: Tata Motors Ltd (TML) almost doubled its consolidated net loss in June, affected by the setbacks of its Jaguar Land Rover (JLR) unit and the deceleration of the automotive industry in India.
The Mumbai-based automaker recorded a net loss of Rs 3,680 million for the three months ended June 30, compared to a loss of Rs 1,863 million a year ago.
Consolidated revenues decreased 8% year-over-year and 29% sequentially to Rs 60,830 million.
TML's commercial vehicle (CV) and passenger car (PV) activities reflect a more pronounced decline in sector-specific products compared to JLR. The VC and PV businesses generated revenues of Rs. 14,309 million rupees in the first quarter of the previous financial year 20, below the R $ 17,290 million rupees of the previous year. In comparison, JLR revenues for the first quarter of the fiscal year 2013 were reduced to Rs. Rs 45,661 million, compared to an income of Rs 48,215 in the first quarter of the fiscal year 2014.
This shows that the British automaker has been able to reduce the accumulated losses for some time through cost reduction measures, such as savings from employee departures, material costs, investment reduction, and adjustment. working capital requirements
"Market demand was the worst of the Q1 years, as the slowdown was stronger than expected. The first quarter was marked by tensions over liquidity and venture capital and PV financing. PB Balaji, CFO of Tata Motors said: "The demand in the Chinese market, the largest for JLR, where the automaker announced a sharp decline in sales of 34% in one year," stabilizes as society continues to intervene, "said Balaji.
"We have corrected inventories, worked on the profitability of distributors and rely on retail growth as a result of the launch of new products. All these fundamental interventions we have made have stabilized trade in China," Balaji said, and JLR is expected Enter Discovery Sport in China. next month, as well as the Defender, which is expected to be deployed in September. 128,615 units for the first quarter of the fiscal year 2015, 11.6% less than the previous year.
In the domestic market, total sales of Tata Motors photovoltaic energy decreased 29% year-on-year to 42,034 units in June. Resale sales, the backbone of domestic activity, fell 15% year-over-year to 89,845 units in the last quarter. This resulted in a year-on-year decrease of more than 20% in the company's CV sales volume, which reached 11,079 crores.
The turnover of the photovoltaic business fell 6% during the quarter to 318 billion rands. This clearly shows that the slowdown in CV sales is a bigger concern for society than photovoltaics, which is performing relatively better with its new SUVs such as Harrier and Nexon.
Weak consumer confidence, cash stress and the implementation of axle load standards have particularly affected medium and heavy CV sales in the domestic market.
Also read: Saudi Arabia struggles to end oil dependence
"Ebitda for PV is at 1.2% despite a 7% drop in retail and 30% in wholesale. This only reflects the fact that our Turnaround 2.0 strategy is paying off. In addition to strict control In inventory, we have also simplified the supply chain by focusing on retail rather than wholesale, "said Balaji, who estimates Ebitda margins at 3 to 4 percent. for Tata Motors and JLR in the next two years., taxes, depreciation.
Balaji expects the current tightening of liquidity in India to improve in the coming quarters, thanks to government intervention. In the 2019 budget, the government provided a credit guarantee to state banks to buy high-quality loans from non-bank financial corporations.
NEW DELHI: Tata Motors Ltd (TML) almost doubled its consolidated net loss in June, affected by the setbacks of its Jaguar Land Rover (JLR) unit and the deceleration of the automotive industry in India.
The Mumbai-based automaker recorded a net loss of Rs 3,680 million for the three months ended June 30, compared to a loss of Rs 1,863 million a year ago.
Consolidated revenues decreased 8% year-over-year and 29% sequentially to Rs 60,830 million.
TML's commercial vehicle (CV) and passenger car (PV) activities reflect a more pronounced decline in sector-specific products compared to JLR. The VC and PV businesses generated revenues of Rs. 14,309 million rupees in the first quarter of the previous financial year 20, below the R $ 17,290 million rupees of the previous year. In comparison, JLR revenues for the first quarter of the fiscal year 2013 were reduced to Rs. Rs 45,661 million, compared to an income of Rs 48,215 in the first quarter of the fiscal year 2014.
This shows that the British automaker has been able to reduce the accumulated losses for some time through cost reduction measures, such as savings from employee departures, material costs, investment reduction, and adjustment. working capital requirements
"Market demand was the worst of the Q1 years, as the slowdown was stronger than expected. The first quarter was marked by tensions over liquidity and venture capital and PV financing. PB Balaji, CFO of Tata Motors said: "The demand in the Chinese market, the largest for JLR, where the automaker announced a sharp decline in sales of 34% in one year," stabilizes as society continues to intervene, "said Balaji.
"We have corrected inventories, worked on the profitability of distributors and rely on retail growth as a result of the launch of new products. All these fundamental interventions we have made have stabilized trade in China," Balaji said, and JLR is expected Enter Discovery Sport in China. next month, as well as the Defender, which is expected to be deployed in September. 128,615 units for the first quarter of the fiscal year 2015, 11.6% less than the previous year.
In the domestic market, total sales of Tata Motors photovoltaic energy decreased 29% year-on-year to 42,034 units in June. Resale sales, the backbone of domestic activity, fell 15% year-over-year to 89,845 units in the last quarter. This resulted in a year-on-year decrease of more than 20% in the company's CV sales volume, which reached 11,079 crores.
The turnover of the photovoltaic business fell 6% during the quarter to 318 billion rands. This clearly shows that the slowdown in CV sales is a bigger concern for society than photovoltaics, which is performing relatively better with its new SUVs such as Harrier and Nexon.
Weak consumer confidence, cash stress and the implementation of axle load standards have particularly affected medium and heavy CV sales in the domestic market.
Also read: Saudi Arabia struggles to end oil dependence
"Ebitda for PV is at 1.2% despite a 7% drop in retail and 30% in wholesale. This only reflects the fact that our Turnaround 2.0 strategy is paying off. In addition to strict control In inventory, we have also simplified the supply chain by focusing on retail rather than wholesale, "said Balaji, who estimates Ebitda margins at 3 to 4 percent. for Tata Motors and JLR in the next two years., taxes, depreciation.
Balaji expects the current tightening of liquidity in India to improve in the coming quarters, thanks to government intervention. In the 2019 budget, the government provided a credit guarantee to state banks to buy high-quality loans from non-bank financial corporations.
Post a Comment