New Delhi, Nov. 6 -- Tata Motors Ltd has taken charge of an Iveco that is losing money. The Italian truckmaker lost €45 million in the July-September quarter, its second quarterly loss this year. It is the first time since Iveco listed in 2022 that it has lost money in two quarters of the same calendar year.

For the nine months to September, the loss widened to €123 million, compared with a €109 million profit a year ago, according to results that Iveco filed in Italy on 3 November. They came just days after Tata completed a 15-month takeover and began folding the two companies together.

The to-do list is long. Tata has to repair Iveco's earnings while servicing the debt it took on to fund a deal worth more than €...