Auto major Tata Motors on Monday today reported Rs 328.78 crore (Rs 3.3 billion) consolidated net loss for the first quarter of this fiscal. The company had a net profit of Rs 719.69 crore (Rs 7.20 billion) in the same quarter last fiscal.
On June 2, 2008, the company acquired Jaguar Land Rover business from Ford Motor Company.
The financial results for the quarter ended June 30, 2009 include the operations of JLR businesses hence the results are not comparable with the previous fiscal, Tata Motors said in a filing to the Bombay Stock Exchange.
Total income from operations stood at Rs 16,397 crore (Rs 163.97 billion) for the reported quarter against Rs 14,490.18 crore (Rs 144.90 billion) recorded in the same quarter the previous fiscal.
Continued adverse global automotive market conditions have resulted in a overall reduction in Jaguar Land Rover volumes during the quarter. The wholesale volumes declined by about 52 per cent, the filing added.
Shares of Tata Motors were trading at Rs 494.55 on the BSE, up one per cent from the previous close.
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