Tata Motors Ltd announced its results for quarter ending December 31, 2021. The automaker reports that its Jaguar Land Rover division’s sales remain significantly constrained by chip shortages and low inventories with retail sales in Q3 of 80,126 vehicles, down 13.6% from Q2 FY22 and 37.6% from Q3 FY21. Revenue was £4.7 billion, up 22% from Q2 FY22 but down year on year but down year on year.
EBIT margin was 1.4% and free cash flow was positive at £164 million in Q3 FY 22.
Tata Motor’s India operations showed significant revenue improvement as compared to Q3 a year ago, however commodity inflation impacted the margins. The company’s Q3 revenue stands at Rs. 21.0KCr with 43% year to year growth. Total wholesales (including exports) increased 30.4% to 200,212 units. EV sales also hit a new peak of 5,592 units in Q3 FY22.
Girish Wagh, Executive Director Tata Motors Ltd said, “The auto industry continued to witness rising demand in most segments even as the supply of semiconductors remained restricted resulting in adverse impact on production. At Tata Motors, our agility in both planning and execution, helped optimize production to deliver another strong quarter with accelerated sales.”