TTM Tata Motors Ltd

By Sabela Ojea

Jaguar Land Rover Automotive PLC reported on Monday a narrowed pretax loss for the third quarter of fiscal 2022 when compared with the previous quarter and a decline in sales.

The company posted a pretax loss of 9 million pounds ($12.1 million) compared with a loss of GBP302 million for the second quarter of its financial year.

Jaguar Land Rover said retail sales for the three months ended Dec. 31, 2021 declined 14% to 80,126 vehicles when compared with the previous quarter and fell 38% when compared with the same period a year earlier as a result of lower volumes due to chip shortages and low inventories.

The company also reported improved earnings before interest and taxes margin of 1.4%, "reflecting improvements in wholesales, mix and cost efficiency," and a revenue rise of 22% to GBP4.7 billion compared with the previous quarter.

"Demand remains strong with a record order book of almost 155,000 vehicles, up 30,000 units from the second quarter reflecting strong demand for the New Range Rover, with deliveries for the model to start later in the fourth quarter," the company added.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

January 31, 2022 11:08 ET (16:08 GMT)

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