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Tata Motors First-Quarter Loss Nearly Doubles

Tata Motors to post a loss of Rs 19.38 billion during the quarter, according to Refinitiv data.

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Tata Motors Ltd reported a bigger quarterly loss on Thursday, as a slump in demand for cars continued at home, while plant shutdowns and delays resulting from issues arising due to Britain's planned exit from the European Union also hurt earnings.

India's biggest automaker by revenue said it lost Rs 36.98 billion ($535.93 million) in the quarter ended June 30, compared to a loss of Rs 19.02 billion a year ago. Its revenue fell 7.7 per cent.

Analysts on an average expected Tata Motors to post a loss of Rs 19.38 billion during the quarter, according to Refinitiv data.

(Reuters)


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