Tata Motors revises margin guidance downwards to 3-6% from 4-7%; stock sinks 16%

TATAMOTORS

Uncertainty over China and with the possibility of a hard Brexit looming large, Tata Motors on February 7 said it is revising its pre-tax margin guidance to 3-6 percent in FY20 from 4-7 percent announced six months back.

The Mumbai-headquartered company reported a consolidated loss of Rs 26,961 crore for Q3 FY19, the biggest in its history. While non-cash asset impairment of Rs 27,838 crore was taken during the quarter under review, a severe slowdown in China impacted margin.

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