- 'Devastated' Australian tennis star Purcell provisionally suspended for doping
- Mozambique on edge as judges rule on disputed election
- Mobile cinema brings Tunisians big screen experience
- Philippines says to acquire US Typhon missile system
- Honda and Nissan to launch merger talks
- Police arrest suspect who set woman on fire in New York subway
- China vows 'cooperation' over ship linked to severed Baltic Sea cables
- Australian tennis star Purcell provisionally suspended for doping
- Asian markets track Wall St rally as US inflation eases rate fears
- Luxury Western goods line Russian stores, three years into sanctions
- Wallace and Gromit return with comic warning about AI dystopia
- Philippine military says will acquire US Typhon missile system
- Afghan bread, the humble centrepiece of every meal
- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - December 23
- Melrose Group Publicly Files Complaint to the Ontario Securities Commission
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
India's Tata Motors in the red over chip shortages
India's Tata Motors, the owners of the Jaguar and Land Rover brands, reported a fourth consecutive quarterly loss Monday, weighed down by higher commodity prices and the global chip shortage.
Microchips are a key component in car manufacturing but automakers around the world have been hamstrung by limited supplies due to semiconductor production cuts during the pandemic.
The Mumbai-headquartered firm reported a net loss of 15.2 billion rupees ($203 million) in the three months to December 31, it said in a statement, compared to a net profit of 29.1 billion rupees a year earlier.
"The auto industry continued to witness rising demand in most segments even as the supply of semiconductors remained restricted resulting in adverse impact on production," Tata Motors' executive director Girish Wagh said in a statement.
"The semiconductor supply situation is improving gradually whilst inflation worries persist," the company added.
Operational revenue slipped 4.5 percent to 722.3 billion ($9.7 billion) from a year earlier.
Retail sales for Tata Motors' British subsidiary, Britain's biggest carmaker Jaguar Land Rover, were "significantly constrained by chip shortages and low inventories" and fell 37.6 percent year-on-year.
But the company's India business saw revenue rise by 43.3 percent on the corresponding period, with sales up across all vehicle segments.
Its electric-vehicle arm reported a new quarterly sales high of 5,592 cars.
Shares in Tata Motors closed 4.04 percent higher at the end of Monday's trade in Mumbai ahead of the earnings announcement.
A.Mahlangu--AMWN