ta Motors was also able to benefit from a recent government-approved relaxation in accounting norms that deferred the treatment for forex losses.
Under the new norms, the company’s notional exchange loss in the first quarter fell to Rs 5.54 crore, compared with Rs 162 crore in the previous year. The rules were relaxed to help companies on mark-to-market losses on foreign currency loans, in a market deeply affected by a volatile forex market.
Tata Motors, whose portfolio stretches from the marque Jaguar to the world’s June quarter, on the back of share sales in a sister concern and new accounting norms that offset forex losses.
Under the new norms, the company’s notional exchange loss in the first quarter fell to Rs 5.54 crore, compared with Rs 162 crore in the previous year. The rules were relaxed to help companies on mark-to-market losses on foreign currency loans, in a market deeply affected by a volatile forex market.
Tata Motors, whose portfolio stretches from the marque Jaguar to the world’s June quarter, on the back of share sales in a sister concern and new accounting norms that offset forex losses.
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