Shares of Tata Motors rallied over 8 per cent in early trade on Friday, a day after the company reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022.
The stock jumped 8.30 per cent to Rs 403 on the BSE.
At the NSE, it zoomed 8.31 per cent to Rs 403.25 apiece.
Home-grown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in the fourth quarter ended March 2022, amid challenges of semiconductor shortage and rising inflation.
The company had posted a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal, Tata Motors said in a regulatory filing.
Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter, as against Rs 88,627.90 crore in the year-ago period, it added.
On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review, as against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.
Standalone total revenue from operations stood at Rs 17,338.27 crore in the fourth quarter, as compared to Rs 13,480.42 crore in the same period of the previous fiscal, Tata Motors said.
“The key highlight of this particular quarter is the sequential recovery that we saw across all businesses, despite the challenges that we had on semiconductors and inflation,” Tata Motors Group CFO PB Balaji said in an earnings call. PTI SUM DRR
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