Tata Motors has reported a weak fourth-quarter which is below street estimates. Both, the standalone business and JLR, have reported steep losses.

JLR has posted a loss of 501 million pounds before taxes. The standalone business loss before tax stands at Rs 4,786 crore versus a projection of Rs 1,064.8 crore loss in an analyst poll conducted by CNBC-TV18.

The company has posted a standalone revenue at Rs 9,733 crore versus a poll of Rs 9,124 crore. The EBITDA loss has come in at Rs 943 crore versus Rs 118.2 crore.

The below chart represents the consolidated reading of the numbers reported:

What's worse is that the next reading, the first-quarter numbers, is likely to be weaker with the full brunt of the COVID-19 lockdown being seen then.

PB Balaji, the CFO of Tata Motors said, "COVID-19 pandemic significantly impacted business in Q4 and FY20."

Talking about the outlook ahead the management spoke about cost reduction measures, "We have been methodically working on exiting non-profitable businesses. Looking at reducing both variable and fixed costs. Teams working on robust plans for cost-cutting in passenger vehicles, CVs. Looking at optimizing spending on an all-pervasive basis. Expecting a substantial amount of savings coming from cost reduction measures in JLR."

First Published:Jun 15, 2020 5:36 PM IST