Login

Tata Motors Reveals Q1 FY2022 Results; Revenue Stands At Rs. 66,406 Crore

Tata Motors ends Q1 FY2022 with a good performance. The net loss for Q1 FY2022 was almost halved from Rs. 8,437.99 crore to Rs. 4,450.92 crore. Total revenue stood at Rs. 66,406 crore.
Calendar-icon

By car&bike Team

clock-icon

1 mins read

Calendar-icon

Published on July 26, 2021

Follow us on

google-news-icon
Story

Highlights

  • Tata sees triple digit growth in its Q1 FY2022 revenues
  • Tata Motors achieves double-digit market share in India after 9 years
  • 1,715 units of Tata Nexon EV retailed in Q1 FY2022

Tata Motors announced its financial results for Q1 FY2022. The company ended the first quarter of FY2022 on a decent note. The net loss for Q1 FY2022 was almost halved from Rs. 8,437.99 crore in the same quarter last year to Rs. 4,450.92 crore in the quarter ended June 30, 2021. Total revenue stood at Rs. 66,406 crore, which is a growth of 107.6 per cent. In its outlook, Tata said that it is expecting impact in the short term on its businesses due to the global shortage of semi-conductors, commodity inflation and uncertainty regarding the pandemic, but expects the situation to improve progressively from the second half of FY2022 as the supply chain becomes stable and there is less uncertainty.

Also Read: Tata Motors Reports 2,14,250 Units In Global Sales In Q1 FY2022

kmk9kiu

(JLR reported sales of 124,537 units in Q1 FY2022, which is a growth of 68.1 per cent year-on-year)

Jaguar Land Rover reported retail sales of 124,537 vehicles in Q1 FY2022, which is an increase of 68.1 per cent year-on-year. Shortage of semiconductor supplies constrained production resulting in a pre-tax loss of £110 million with an EBIT margin of (0.9) % and a free cash outflow of £996 million marking a good improvement from the loss of £413 million and cash outflow of £1.6 billion at the peak of the pandemic a year ago.

dhlo8nno

(Tata Motors achieved double digit (10 per cent) market share for its PVs in India for the first time in 9 years)

Coming to its India operations, Tata Motors reported its performance showing good improvement compared to Q1 FY2021. Although, the company did acknowledge that the second wave of the COVID-19 pandemic slowed the momentum down, due to supply issues and chip shortages. Therefore, Tata Motors reported growth in earnings before interests and taxes (EBIT) of 6.2 per cent and pre-tax loss of Rs. 1,300 crore for Q1 FY2022. The company registered retail sales of over 95,200 units, which is a growth of 340 per cent over Q1 FY2021. The passenger vehicle segment included retail sales of over 53,800, which is a growth of 189 per cent. The highlight here is that Tata Motors passenger vehicles achieved double digit market share in India after a gap of nine years. Currently, Tata Motors' PV market share is 10 per cent. Tata also reported maintained momentum for its EV sales, with 1,715 units of the Nexon EV sold in Q1 FY2022.

scvtn8mo

(Tata Motors retailed 1,715 units of Nexon EVs in Q1 FY2022)

Girish Wagh, Executive Director Tata Motors Ltd said, "The successful implementation of a comprehensive Business Agility plan enabled us to manage lockdowns effectively and also deliver competitive growth as markets reopened. In the near term, we remain focused on fulfilling customer demands while driving all levers of the business to mitigate the unprecedented commodity inflation. Looking beyond the short-term challenges, we see significant opportunities to leverage the mega trends shaping the Indian automotive industry. We are working to transform the customer experience digitally and also strengthen our lead in sustainable mobility. We will continue to make the requisite investments to ensure a competitive product portfolio whilst driving down the cash break-evens of the business to deliver consistent, competitive and cash accretive growth over the medium to long term."

Of course, all the triple digit growth numbers should be treated as an anomaly as the base last year was really low, with the pandemic hitting and the subsequent nation-wide lockdown in many countries including India, with April 2020 seeing zero domestic sales across segments and very low exports.

Stay updated with automotive news and reviews right at your fingertips through carandbike.com's Google News

Related Articles

Latest News

Popular Tata Models