July 31, 2018 / 11:34 AM / 18 days ago

Tata Motors reports first quarter loss

July 31 (Reuters) - India’s Tata Motors Ltd reported on Tuesday a loss for the three months through June, hurt by higher raw material costs.

It said it made a net loss of 19.02 billion rupees ($277 million), compared with a profit of 31.82 billion rupees in the same quarter a year ago.

Changes to the way JLR’s pension payments are calculated had resulted in a one-time gain of 36.09 billion rupees last year.

Total expenses during April-June rose about 17 percent to 698.90 billion rupees. ($1 = 68.5825 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Susan Fenton)

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