June 15, 2020 / 11:54 AM / 23 days ago

BRIEF-India's Tata Motors Reports March-Qtr Consol Net Loss Of 98.94 Bln Rupees

June 15 (Reuters) - Tata Motors Ltd:

* MARCH-QUARTER CONSOL NET LOSS 98.94 BILLION RUPEES VERSUS PROFIT 11.17 BILLION RUPEES YEAR AGO

* CONSENSUS FORECAST FOR MARCH-QUARTER CONSOL LOSS WAS 16.85 BILLION RUPEES — REFINITIV DATA

* MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 624.93 BILLION RUPEES VERSUS 864.22 BILLION RUPEES YEAR AGO

* Q1 FY21 EXPECTED TO BE SIGNIFICANTLY WEAKER IN BOTH JLR AND TML WITH FULL IMPACT OF LOCKDOWNS BEING REFLECTED IN RESULTS

* ACTIONS UNDERWAY TO SIGNIFICANTLY DELEVERAGE TATA MOTORS GROUP WITH JLR TO BECOME SUSTAINABLY CASH POSITIVE FROM FY22

* EXPECTS GRADUAL RECOVERY OF SALES, IMPROVING CASH FLOWS FOR REMAINDER OF YEAR FOR JLR

* WHILE OUTLOOK REMAINS UNCERTAIN, TATA MOTORS EXPECTS GRADUAL RECOVERY OF SALES AND IMPROVING CASH FLOWS FOR REMAINDER OF YEAR

* TATA MOTORS EXPECTS TO END FY21 WITH POSITIVE FREE CASH FLOWS

* TATA MOTORS SEES SIGNIFICANTLY LOWER SALES IN Q1 AND NEGATIVE FREE CASH FLOW OF ABOUT 50 BILLION RUPEES IN Q1FY21

* MARCH-QUARTER CONSOL EBITDA MARGIN 4.6%, DOWN 510 BPS Y/Y

* JLR SUFFERED A LOSS OF GBP 501 MILLION IN Q4, GBP 422 MILLION FOR FY

* TATA MOTORS HAS CALLED OUT COST SAVINGS PROGRAM OF 15 BILLION RUPEES, CASH IMPROVEMENT PROGRAM OF 60 BILLION RUPEES Source text: bit.ly/2Y4jmcB Further company coverage:

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