The company reported quarterly loss for the first time in four years on the back of weak rupee and higher input costs. As per the exchange filing, the net profit at the auto-maker decreased by 10% on a year-on-year basis to Rs.. 2,240 crore for the Q2 ended September 30, 2018.
The revenue at the company also increased on a YoY basis by 3% to Rs 22,433 crore. It is being considered that festive season delay has affected the topline.
In the reporting quarter, the company sold 4.84 units in comparison to 1.5% higher in the year ago period. The exports at the auto maker also narrowed down by 15% to 29,448 units.
"The operating profit was impacted due to the increase in commodity prices, adverse foreign exchange movement and higher sales promotion expenses partially offset by cost reduction efforts," the company said.
EBIT fell during the quarter to Rs. 3,431 crore and the operating margin also reduced to 15.3%.
After the announcement of quarterly earnings, the company fluctuated between gains and losses and was last seen trading at Rs. 6697, down by over 1%.