Led by strong operational performance of the commercial vehicle/passenger vehicle business and India operations, its India business was able to trim losses to 181.03 crore, from ₹1,320.74 crore.
Losses at the consolidated entity widened to ₹5,007 crore, compared with ₹4,451 crore. Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter. It remained flat, compared to the preceding quarter.
Analysts had expected the automotive major to report a consolidated net loss of ₹1,263 crore during the June quarter. The earnings before interest and tax (Ebit) margin decreased to 4.4 per cent, reflecting lower wholesales and a weaker product mix.
On Wednesday, the company's scrip on the BSE closed 0.66 per cent higher at ₹443.95.
This story is from the July 28, 2022 edition of Business Standard.
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This story is from the July 28, 2022 edition of Business Standard.
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