July 25, 2019 / 10:57 AM / 5 months ago

Tata Motors first-quarter loss nearly doubles

BENGALURU, July 25 (Reuters) - Tata Motors Ltd reported a bigger quarterly loss on Thursday, as a slump in demand for cars continued at home, while plant shutdowns and delays resulting from issues arising due to Britain’s planned exit from the European Union also hurt earnings.

India’s biggest automaker by revenue said it lost 36.98 billion rupees ($535.93 million) in the quarter ended June 30, compared to a loss of 19.02 billion rupees a year ago. Its revenue fell 7.7%.

Analysts on an average expected Tata Motors to post a loss of 19.38 billion rupees during the quarter, according to Refinitiv data.

$1 = 69.0010 Indian rupees Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V

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