Tata Motors CV Q3 Results: Net profit falls 48% YoY, revenue rises 16% to ₹21,847 crore

Tata Motors Commercial Vehicles (CV) on Thursday, January 29, posted a 47.9% fall in its consolidated net profit for the third quarter of the current financial year (Q3 FY26) to ₹705 crore, down from ₹1,355 crore recorded in the year-ago period.

The company's revenue, however, jumped 16.1% to ₹21,847 crore during Q3 FY26 as against ₹18,819 crore in Q3 FY25.

Tata Motors' profit before tax rose by 65% year-on-year (YoY) to ₹2,568 crore. Its net profit was impacted by the implementation of the New Labour Codes with an incremental impact consisting of gratuity of ₹508 crore and long-term compensated absences of ₹95 crore, the company said.

Tata Motors CV Q3 Results: Key highlights

The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin for the reporting quarter stood at 12.5%, up 30 basis points (bps) on the back of higher volumes and improved realisations.

The CV business recorded a 20% rise in its wholesales to 116,800 units, with 18% rise in domestic volumes and 70% growth in exports.

On the VAHAN platform, its domestic CV market share grew by 100 basis points quarter-on-quarter (QoQ) to 35.5%.

During the quarter, the company launched the Azura range for the intermediate and light commercial vehicle segment, the Ace Pro EV and electric trucks across many segments.

Commenting on the Q3 FY26 results, MD and CEO Girish Wagh said, “Disciplined execution of an agile strategy delivered yet another strong financial performance this quarter, supported by demand tailwinds from GST 2.0 and the festive season. Our recent launch of 17 next-generation trucks under the ‘Better Always’ philosophy sets new benchmarks in safety, total cost of ownership, and smarter, emission-free mobility, reinforcing our commitment to innovation and industry leadership. With infrastructure spending accelerating, we are well-positioned to sustain momentum and drive continued growth."