Pune-based Tata Motors reported a consolidated revenue of Rs 72,229.3 crore for the quarter ended December 31, 2021, on the back of accelerated sales. In its quarterly earnings report, the company's revenue from commercial vehicles increased 28.7 percent, while its passenger vehicle segment too reported a 72.3 percent revenue increase.

"We continue to increase market share in every segment of commercial vehicles and set several new milestones in passenger vehicles with decade high sales for both the quarter as well as the calendar year 2021. We also recorded the highest ever EV sales during the quarter and sold 10,000 EVs in 9MFY22, crossing new milestones," Tata Motors Executive Director Girish Wagh said.

In the report, the company reported a consolidated net loss of Rs 1,516 crore, roughly Rs 400 crore higher than estimates. The company also reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Rs 7,078 crore (estimates had pegged it at Rs 7,520 crore) and an EBIDTA margin of 9.8%, largely in line with estimates.

Meanwhile, Jaguar Land Rover, a Tata Motors subsidiary, reported a Q3 revenue of £4.7 billion, up 22 percent quarter-on-quarter, while its EBIT margin improved from Q2 to 1.4 percent. JLR reported a loss of £9 million loss in the quarter.

Tata Motors' standalone results were more encouraging. It reported a Q3 revenue of Rs 21,000 crore, which was a 14 percent QoQ increase and a 43 percent year-on year increase. In the report, the company said, "In Q3FY22, wholesales (including exports) increased 30.4 percent to 2,00,212 units. The volumes across all segments significantly grew as compared to Q3 FY21, despite supply challenges."

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The company reported a pre-tax loss of Rs 834 crore as against a loss of Rs 542 crore in Q3FY21. "PBT decline was mainly caused due to commodity inflation despite improved volumes and mix," the company said. Its EBIT margin dropped to -1.7 percent in the quarter.

In its outlook, the company said, "The demand remains strong despite near term concerns from Omicron spread. The semiconductor supply situation is improving gradually whilst inflation worries persist. Over the last two years, the resilience of the business has improved, and it is now intrinsically stronger. With concerted actions in place to address the near-term supply and cost challenges, we expect performance to improve further in Q4 FY22 and beyond."

(Edited by : Vijay Anand)

First Published:Jan 31, 2022 4:29 PM IST