Tata Motors posts standalone net loss at Rs1,040cr in Q3FY20

Tata Motors net revenue fell 33% yoy to ~Rs10,800cr in Q3FY20.

EBIT stood at -6.7%, M&HCV volume down 48%, adverse mix and negative operating leverage.

Loss before tax stood at ~Rs1,024cr. Net loss came in at Rs1,040cr. Cash flows of ~Rs2,402cr led by focused actions on working capital.

Consolidated net revenue stood at Rs71,676cr, down 7% yoy. EBDITA margin came in at 9.9%. PBT was at Rs1,350cr. 

For JLR, net revenue rose 3% yoy to Euro6,398mn. EBDITA margin stood at Rs10.8%. PBT stood at Euro318mn. 

Growth continues to be impacted by subdued demand following the general economic slowdown, higher axle loads, liquidity stress and low freight availability for cargo operators, the company said in a filing.

India business improved sequentially, with performance impacted by M&HCV decline (despite market share gain) and BSIV stock reduction. Consolidated results benefitted from JLR China recovery and project charge offset by M&HCV decline and stock reduction in India.

Stock View:

Tata Motors Ltd is currently trading at Rs185.85 down by Rs2.2 or 1.17% from its previous closing of Rs188.05 on the BSE.

The scrip opened at Rs191.05 and has touched a high and low of Rs192.50 and Rs184.35 respectively. So far 7,31,12,315 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs62,036.64cr.

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