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Telco suffers Rs 356 million Q1 loss

The Tata Engineering and Locomotive Company Limited has suffered losses of Rs 356.3 million during the quarter ended June 30, 1998.

The company has attributed the downturn to a decline in overall market demand, particularly in the more profitable medium and heavy commercial vehicles segment.

The company's total income at Rs 12.27 billion was 31.7 per cent lower than during the same period last year. The company's sale of vehicles in the domestic market was down by 40.7 per cent compared to the corresponding period the previous year.

However, exports for the period have shown an increase of 13.2 per cent in value terms during this quarter as compared to the same period during the previous year.

UNI