Tata Motors reported a narrowed fourth-quarter net loss to Rs 992.05 crore.

New Delhi:

Shares in Tata Motors rose more than 8 percent in early trade on Friday, a day after the company reported a narrowed consolidated net loss to 992.05 crore for the fourth quarter ended March 2022.

The stock rose 8.30 percent to Rs 403 on the BSE.

On the NSE, it rose 8.31 percent to Rs 403.25 per share.

Homegrown auto giant Tata Motors reported on Thursday that its consolidated net loss narrowed to Rs 992.05 crore in the fourth quarter ended March 2022 amid challenges from semiconductor and rising inflation.

Tata Motors said in a regulatory filing that the company posted a consolidated net loss of Rs 7,585.34 crore in the corresponding period of the previous fiscal.

It added that its consolidated gross operating income for the fourth quarter was Rs 78,439.06 crore compared to Rs 88,627.90 crore in the same period last year.

On a standalone basis, the automaker reported a net profit of Rs 413.35 crore during the period under review, compared to a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21.

Tata Motors said total revenue from standalone operations in the fourth quarter was Rs 17,338.27 crore, compared to Rs 1,348.042 crore in the corresponding period of the previous fiscal.

“The key highlight of this particular quarter was the sequential recovery we saw across all businesses, despite our challenges in semiconductors and inflation,” PB Balaji, CFO of Tata Motors Group, said on the earnings call.

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