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Tata Motors gained 4 per cent in opening trade on Tuesday despite losses it incurred in the fourth quarter.
Earlier, it had reported consolidated net loss to ₹9,863.75 crore for the fourth quarter ended March 31, 2020. It had posted a consolidated net profit of ₹1,108.66 crore during the same quarter last year. The loss during the fourth quarter is also because the company made a provision for impairment in its passenger vehicles business, onerous contracts and subsidiaries, amounting to around ₹2,500 crore.
Total revenue from operations during the fourth quarter of FY20 stood at ₹62,492.96 crore, a 27.68 per cent fall from the year-ago period’s ₹86,422.33 crore.
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