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rdf:type	schema:NewsArticle
schema:articleBody	India's Tata Motors reported wider losses for the July-September quarter Tuesday as the coronavirus pandemic hammered demand in domestic and international markets. The Mumbai-headquartered firm, which owns British luxury brand Jaguar Land Rover (JLR), announced a consolidated net loss of 3.14 billion rupees ($42.61 million) for the quarter ending September 30 against a loss of 2.17 billion rupees a year earlier. JLR sales were down nearly 12 percent compared to the same period the previous year as the virus crisis and uncertainty over Brexit weakened demand. Tata Motors' revenues fell by 18.2 percent to 535.3 billion rupees, the firm said. The company said however that it expected sales to improve as lockdowns ease and supply chain bottlenecks are removed. "We remain hopeful for a full recovery... by end of this fiscal year aligned to the overall improvement in the economy", chief executive Guenter Butschek said in a statement. Indian carmakers were struggling with low demand due to an economic slowdown and lack of liquidity through 2019, before the virus and a months-long lockdown dealt a sharp blow to Asia's third-largest economy. Tata Motors shares closed 1.5 percent higher in Mumbai ahead of the earnings announcement. amu/grk/axn
schema:headline	India's Tata Motors widens losses as virus saps demand
schema:mentions	Chhatrapati Shivaji Maharaj International Airport Tata Motors Supply chain Asia Brexit Lockdown Pandemic Virus India United Kingdom Jaguar Land Rover Atomic mass unit We Remain Market liquidity AXN
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	63 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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