Company Reports Q1 Loss; Plans ₹1,700 Cr Fundraise Despite Lower Income

The company posted a Q1 income of ₹896 crore, down from ₹1,718 crore YoY, with expenses at ₹1,065 crore. Automotive segment revenue was ₹826 crore, while Cell brought in ₹3 crore. Pre-tax losses stood at ₹261 crore (Automotive) and ₹69 crore (Cell). Despite losses, the board approved a ₹1,700 crore fundraise via debt. Of the ₹5,275 crore IPO proceeds raised earlier, ₹2,681 crore has been used, and ₹2,594 crore remains, mostly in fixed deposits.