Tata Motors October sales up 27%
Shares of Tata Motors was up over 2% after the Jaguar Land Rover (JLR) luxury car brand owner declared its sales numbers from the month of October.
The Tata Group company reported a 27% growth in its total domestic sales to 49,669 units in October. It had sold 39,152 vehicles in October 2019.
Passenger vehicle sales during the previous month surged 79% to 23,617 cars as compared to 13,169 units in October 2019.
Commercial vehicle (CV) sales were up 2% to 28,472 vehicles in October as against 28,002 vehicles in the year-ago period. The domestic sales stood at 26,052 in the previous month.
CV Exports was up 20% at 2,420 units versus 2,019 units and Total PV sales jumped 79% at 23,617 units versus 13,169 units, YoY.
Tata Motors posted a consolidated loss of Rs 314.5 crore in the quarter ended September 30 against a loss of Rs 216.56 crore in the year-ago period. Revenue from the passenger vehicle segment increased 86.3% YoY, with the achievement of EBITDA breakeven in Q2.
Interestingly, ace investor Rakesh Jhunjhunwala bought 4 crore shares of Tata Motors in the September quarter of FY21, data on BSE showed.
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