Tata Motors posts net loss of Rs 28,826 crore in FY19, JLR turns profitable in Q4
The total revenue from operation increased to Rs 3.01 lakh crore during the financial year 2018-19, as compared to Rs 2.92 lakh crore during the previous fiscal
- May 20, 2019,
- Updated May 20, 2019 5:34 PM IST
Tata Motors has reported a consolidated net loss of Rs 28,826.23 crore during the financial year 2018-19. The Indian auto major had posted a consolidated net profit of Rs 8,988.91 in the financial year 2017-18.
The total revenue from operation increased to Rs 3.01 lakh crore during the financial year 2018-19, as compared to Rs 2.92 lakh crore during the previous fiscal, Tata Motors said in a filing to the Bombay Stock Exchange.
During FY19, Tata Motors closed manufacturing operations in Thailand and the relevant restructuring costs were factored into the financial results. The company made provisions to the tune of Rs 381.01 crore under costs of closure of operation of a subsidiary during the fiscal year 2018-19.
"On July 31, 2018, the Company decided to cease its current manufacturing operations of Tata Motors Thailand Ltd. Accordingly, the relevant restructuring costs have been accounted in the year ended March 31, 2019," the company said in its filing to the Bombay Stock Exchange.
Tata Motors has reported a consolidated net loss of Rs 28,826.23 crore during the financial year 2018-19. The Indian auto major had posted a consolidated net profit of Rs 8,988.91 in the financial year 2017-18.
The total revenue from operation increased to Rs 3.01 lakh crore during the financial year 2018-19, as compared to Rs 2.92 lakh crore during the previous fiscal, Tata Motors said in a filing to the Bombay Stock Exchange.
During FY19, Tata Motors closed manufacturing operations in Thailand and the relevant restructuring costs were factored into the financial results. The company made provisions to the tune of Rs 381.01 crore under costs of closure of operation of a subsidiary during the fiscal year 2018-19.
"On July 31, 2018, the Company decided to cease its current manufacturing operations of Tata Motors Thailand Ltd. Accordingly, the relevant restructuring costs have been accounted in the year ended March 31, 2019," the company said in its filing to the Bombay Stock Exchange.