Tata Motors shares jump over 8 percent after Q1 earnings

Shares of Tata Motors on Monday jumped over 8 per cent after company's first-quarter earnings were better than estimates. 

stock rose by 8.30 per cent to Rs 113.40 on BSE. On NSE, it jumped 8.45 per cent to Rs 113.50.

results were subdued, but better than estimates. Standalone Q1 EBITDA was also better than expected, Emkay Global Financial Services said.

"Tata Motors continues to outperform on balance sheet as well as cost control initiatives," according to a report by Edelweiss Research.

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homegrown auto major on Friday reported a consolidated net loss of Rs 8,443.98 crore for first quarter ended June 2020.

company h posted a net loss of Rs 3,679.66 crore in year-ago quarter.

Total income from operations during period under review stood at Rs 31,983.06 crore as against Rs 61,466.99 crore in corresponding quarter of last fiscal.

company's British arm Jaguar Land Rover (JLR) reported a 44 per cent dip in net revenue at 2.9 billion pounds during first quarter.

On a standalone basis, company said its net loss for quarter was at Rs 2,154.24 crore as against a net loss of Rs 147.45 crore in year-ago period.

Standalone revenue from operations stood at Rs 2,634.14 crore as compared with Rs 13,250.19 crore in April-June period of 2019-20.

manment remains focussed on making company more agile to improve its market, operational and financial performance by reducing costs, generating free cash-flows and providing best in class customer experience, Tata Motors CEO said. 

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