Tata Motors reports massive Rs 26,961 crore Q3 loss on one-time hit from asset impairment at JLR

NEW DELHI: Auto major Tata Motors on Thursday reported a massive Rs 26,961 crore consolidated loss for the December quarter. The company said it took one-time exceptional non-cash charge for asset impairment of 3.1 billion pounds.

The auto firm had posted a profit of Rs 1,214.60 crore in the year-ago period.

Consolidated revenue for the quarter under review rose 5 per cent YoY to Rs 77,001 crore.

Tata Motors Ltd.-32.15 (-17.58%)

In a filing to the BSE, the automaker said its performance was impacted by challenging market conditions particularly in China and inventory corrections.

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