BENGALURU (Reuters) – India’s Tata Motors Ltd reported a first-quarter loss on Monday, as semiconductor shortages crimped the carmaker’s ability to take advantage of the pandemic-fueled demand for personal vehicles.
The parent of Jaguar Land Rover (JLR) reported a consolidated net loss of 44.51 billion rupees ($598.04 million) for the quarter ended June 30, compared with a loss of 84.38 billion rupees a year earlier.
The luxury carmaker’s business across several key markets was hammered by the pandemic last year.
($1 = 74.4260 Indian rupees)
(Reporting by Chandini Monnappa in Bengaluru; Editing by Sriraj Kalluvila)
