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Tata Motors skids in FY 09; reports Rs 2,505-cr net loss

Mumbai : Global economic downturn cast its shadow on home-grown auto major Tata Motors which has posted a consolidated net loss of Rs 2,505.25 crore for FY 09 against a profit after tax (PAT) of Rs 2,167.70 crore for FY 08.

Consolidated revenues for the reporting year was Rs 70,938.85 crore against Rs 35,660.07 crore in FY 08, Tata Motors said here.

Tata Motors’ consolidated results includes results of Land Rover and Jaguar, the British car brands that the Indian firm acquired from Ford in June 2008.

“The results would have to be seen in the context of the global economic meltdown witnessed in the third quarter of the last financial year,” Tata Motors Vice-Chairman Ravi Kant told TOI reporter.

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