Shares of Tata Motors Passenger Vehicles slipped as much as 7 per cent to their day’s low of ₹363 per share on the NSE on Monday, November 17, after the company announced a weak set of numbers for the quarter ended September 30 and a cut in guidance by its luxury arm, Jaguar Land Rover.
The Nexon-maker reported a consolidated net profit of ₹76,170 crore for the September-ended quarter, driven by exceptional gains of ₹82,616 crore from the disposal of discontinued operations from its recent demerger. The profit after tax (PAT) in the same quarter last year stood at ₹3,446 crore.
On an adjusted basis, Tata Motors PV reported a net loss of ₹6,370 crore at the end of the September quarter.
The company’s revenue from operations for the quarter was ₹71,714 crore, down 13 per cent from ₹82,841 crore in the corresponding quarter of the previous financial year. Tata Motors’ Passenger Vehicles segment reported an EBIT of negative ₹4,900 crore, down ₹8,800 crore year-on-year.
The company said its performance was significantly impacted by the cyber incident at Jaguar Land Rover (JLR), although domestic operations remained steady during the quarter and rebounded following GST reductions. PBT (BEI) for Q2FY26 stood at negative ₹5,500 crore.
As a result, it cut Jaguar Land Rover (JLR), its luxury car unit’s EBIT margin guidance to just 0 per cent to 2 per cent from 5 per cent to 7% earlier. From near zero, JLR now sees negative free cash flow of up to £2.5 billion.
“Our growth was powered by our multi-powertrain portfolio, with CNG and EV volumes accounting for 45 per cent of our volumes in Q2. EV sales surged by nearly 60 per cent YoY with nearly 25 thousand units sold in Q2, reaffirming our leadership in sustainable mobility. Leveraging a reinvigorated demand environment, our agile approach, strong portfolio, and impactful marketing helped us drive this growth trajectory,” Shailesh Chandra, MD and CEO of Tata Motors PV said.
September was particularly noteworthy, with record overall sales of 60,000 units, translating into improving revenues and QoQ improvement in profitability, Chandra added.
Tata Motors PV shares ended the previous session at ₹393 per share, down over a percent.
