Tata Motors Q2 standalone net loss at Rs 631 crore, shares tank nine percent

Country's leading automaker Tata Motors standalone net loss widened to Rs 631 crore in the September quarter. The shares of Tata Motors tumbled 9 per cent after the massive dip in its profitability level for the September quarter.

On NSE, shares of the company tanked 9 per cent to Rs 461.35.

On standalone basis, Tata Motors' net loss widened to Rs 631 crore for the quarter under review compared to Rs 289 crore in the year-ago period. The company's standalone net sales were at Rs 11,406 crore as against Rs 11,794 crore in the year-ago period, down 3.28 per cent.

Meanwhile, Tata Motors reported consolidate profit after tax of Rs 848 crore for the September quarter, mainly on the back of good show by JLR.

It had posted a consolidated loss of Rs 1,740 crore in the July-September period of last fiscal, Tata Motors had said in a statement.

Its consolidated net revenue in the second quarter of 2016-17 was up 6.94 per cent at Rs 67,000 crore as against Rs 62,647 crore in the year-ago period.

JLR posted strong sales in all the regions -- UK, Europe, North America, China and other overseas markets, the company said.