Mumbai (Maharashtra), July 31 -- : Tata Motors said on Friday its consolidated net loss in the first quarter of current fiscal increased to Rs 8,438 crore from Rs 3,698 crore in the corresponding quarter of last year.
Total revenue from operations nearly halved to Rs 31,983 crore in Q1 FY21 from Rs 61,467 crore in Q1 FY20. Finance costs increased by Rs 165 crore to Rs 1,877 crore due to higher gross borrowings in the same period.
Tata Motors said the outlook remains uncertain for the year with Covid-19 infections continuing to rise and intermittent lockdowns in many countries. However, it expects a gradual recovery of demand and supply in the coming months.
"We are committed to significantly deleveraging the business in the coming years ...