October 31, 2018 / 10:19 AM / 20 days ago

Tata Motors posts Q2 loss on lean JLR sales, one-off charge

Oct 31 (Reuters) - India’s Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure.

The automaker made a loss of 10.49 billion rupees ($141.92 million), compared with a profit of 24.83 billion rupees in the year-ago period, the company said here

That was above the street estimate of a loss of 2.40 billion rupees, according to Refinitiv data.

Total expenses during July-September rose 8.6 percent, while revenue climbed to 712.93 billion rupees from 695.70 billion rupees a year earlier. ($1 = 73.9125 Indian rupees) (Reporting By Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips)

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