MUMBAI, India — Tata Motors Passenger Vehicles (TMPV) posted a staggering consolidated net profit of Rs 76,170 crore for the second quarter of FY26, driven almost entirely by an exceptional one-time gain of Rs 82,616 crore from the demerger of its commercial vehicles business. The figure marks a dramatic jump from the Rs 3,446 crore profit recorded in the same quarter last year.
However, excluding the demerger-related gain, TMPV fell into a net loss of Rs 6,368 crore, reflecting operational pressures, particularly within Jaguar Land Rover (JLR), which suffered a steep drop in volumes due to a cyberattack that disrupted production and deliveries.
Overall revenue for the quarter fell 14 percent year-over-year to Rs 72,349 crore, down from Rs 83,656 crore in Q2 FY25. On a comparable basis, Tata Motors had posted a net profit of Rs 3,056 crore in the year-ago period.
JLR, which accounts for nearly two-thirds of the company’s consolidated operations, saw revenue decline 24.3 percent from last year. In contrast, TMPV’s domestic passenger vehicle business grew strongly, with revenue rising 15.6 percent to Rs 13,500 crore, supported by improved demand following GST rate reductions late in the quarter.
At the operating level, the company reported an EBITDA loss of Rs 1,404 crore, a significant reversal from the Rs 9,914 crore operating profit recorded in the September 2024 quarter.
Tata Motors’ stock closed 1.3 percent lower at Rs 392.9 on Friday. The quarterly results were announced after market hours.
Shailesh Chandra, Managing Director and CEO of Tata Motors Passenger Vehicles, said Q2 FY26 was a “landmark quarter,” highlighting strong domestic momentum despite the disruptions. “We delivered double-digit year-on-year growth in wholesale volumes and registrations, alongside several record-breaking milestones,” Chandra said.
He added that the company’s multi-powertrain strategy was central to its performance. “CNG and EV volumes accounted for 45 percent of our total volumes. EV sales grew nearly 60 percent year-on-year, with about 25,000 units sold, reaffirming our leadership in sustainable mobility,” he said.
Chandra noted that September stood out with record sales of 60,000 units and several key milestones, supported by a strong product portfolio, agile operations, and effective marketing initiatives. (Source: IANS)
