tata motors: Tata Motors quarterly loss widens as chip crunch, high commodity prices weigh

BENGALURU: Tata Motors posted a wider quarterly loss on Monday, as semiconductor shortages and high commodity prices dented sales and production for the carmaker. Global carmakers have warned of extended pain and have taken sharp production cuts this year as supply chain disruptions and booming demand for consumer electronics have led to an acute shortage of chips critical in powering electronic devices. Tata Motors, which had already warned that it expected shortages in the second quarter to be greater than in the first, had said last month it saw semiconductor shortages gradually easing over the next 12 months. There are significant challenges on the supply side, including semi-conductor issues and sharp commodity inflation, Tata Motors said in an exchange filing on Monday. Retail sales at JLR, which accounts for most of Tata Motors’ revenue, were down 18.4% from a year earlier as the semiconductor shortages hurt production. Still, revenue rose 14.7% to Rs 61,379 crore in the quarter ended September 30. Tata Motors logged a consolidated net loss of Rs 4,442 crore ($593.02 million) for the quarter, compared with a loss of Rs 3,140 crore a year earlier.

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