Tata Motors Ltd on Thursday reported the narrowing of their consolidated net loss to Rs 992crore for the quarter ended March 31, 2022. It is reported that the net loss was of Rs 7,605 crore a year-ago and Rs 1,516 crore in December.
However, the company has received lower revenues of ₹77,857 crore compared with ₹87,772 crore.
Moreover, Tata Motors Executive Director Girish Wagh has said. “The Indian Commercial Vehicle sector hit badly for two successive years. Showed promising growth patterns in FY22 supported by a steady recovery. Rising industrial activity and reopening of markets. The early adoption of a holistic ‘Business Agility Plan’. As enabled us to protect and serve the interests of our dealers, customers and suppliers. As well as smartly manage supply related issues. Including the global shortage of critical electronic parts.
In a challenging year disrupted by Chinese COVID-19 virus semiconductor crisis. And exponential increase in commodity prices. Tata Motors set several new records in electric and passenger vehicles to make FY22 a landmark year”. Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said.
In future Tata Motors will focus on sustainability
He further added. “The demand for ‘New Forever’ range continues to remain strong even if the semiconductor situation and supply side challenges stay uncertain. We will continue to take strong actions while enhancing our focus on future-fit initiatives of transforming customer satisfaction digitally and strengthening our established lead in sustainable mobility.”