Tata Motors Ltd (TAMdv.NS)
7 Aug 2020
Tue, Aug 4 2020
-- Note: Reuters has not verified this story and does not vouch for its accuracy
NEW DELHI/BENGALURU India's Tata Motors Ltd warned on Friday that its luxury car unit, Jaguar Land Rover (JLR), may post another quarterly loss as the coronavirus crisis saps demand and cripples its supply chain.
NEW DELHI/BENGALURU, July 31 India's Tata Motors Ltd warned on Friday that its luxury car unit, Jaguar Land Rover (JLR), may post another quarterly loss as the coronavirus crisis saps demand and cripples its supply chain.
BENGALURU, July 31 India's Tata Motors Ltd posted a loss for a second straight quarter on Friday, as coronavirus-related lockdowns in several countries hit sales at Jaguar Land Rover, its luxury car unit.
* JLR JUNE RETAIL SALES 35,334 VEHICLES, DOWN 24.9% YEAR-ON-YEAR
July 4 -- Source link: https://on.ft.com/3is0Vqp
BENGALURU India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak.
* Cost-cutting target at JLR raised to 5 bln pounds by March 2021
* TOOK ASSET WRITEDOWN OF 25 BILLION RUPEES ON PASSENGER VEHICLE BUSINESS
* MARCH-QUARTER CONSOL NET LOSS 98.94 BILLION RUPEES VERSUS PROFIT 11.17 BILLION RUPEES YEAR AGO