Tata Motors Passenger Vehicles Q2 results: Net profit surges to ₹76,170 crore, net sales decline 14%

Tata Motors Passenger Vehicles (TMPV), the demerged passenger vehicle arm of Tata Motors, on Friday, November 14, reported net profit of ₹76,170 crore in the second quarter of current financial year, marking a multi fold jump from ₹3,446 crore in the same period last year.

The sharp jump in profit came on the back of exceptional gain of ₹82,616 crore on disposal of discontinued operations after it got demerged from Tata Motors Commercial Vehicles.

The company's revenue declined 14% in July-September period to ₹72,349 crore as against ₹83,656 crore in the year-ago period.

The Mumbai-based car maker reported weak operational performance as it reported an EBITDA loss (earnings before interest, taxes, depreciation, and amortization) of ₹1,404 crore compared to operating profit of ₹9,914 crore.

The company also had an exceptional gain of ₹2,608 crore on account of employee separation cost and supplier claim/cyber related incident expenses, Tata Motors said.

Jaguar Land Rover Q2 performance

The performance was impacted significantly by the cyber incident at JLR. Domestic performance was steady during the quarter but rebounded post GST reductions, Tata Motors said in a press release.

Jaguar Land Rover's (JLR) revenue in the second quarter of current financial year declined 24% to 4.9 billion pounds. All JLR metrices were significantly impacted by cyber incident which resulted in EBIT margins of -8.6%, Tata Motors noted.

Going ahead Tata Motors Passenger Vehicles said that the global situation remains challenging.

"To respond effectively, we will focus on stabilising production and increasing resilience throughout the extended supply chain. In parallel, we will step up our brand-led actions to drive up demand for our products and accelerate initiatives aimed at enhancing savings and cash flow. Domestic business continues to witness robust demand following the rollout of GST 2.0. and we will drive growth through new product interventions and strong marketing actions. Overall, we expect an all-round improvement in performance in H2 FY26," Tata Motors said.

“It has been a difficult period for the business. However, we are committed to emerging from the cyber incident even stronger. With the demerger completed, both JLR and domestic PV businesses are well poised to leverage the significant opportunities provided by this exciting industry. Demand situation remains challenging globally but domestically there are signs of resurgence. In this context, our strategy is clear, plans robust and we will continue to execute them with speed and rigour to win,” said PB Balaji, Group Chief Financial Officer, Tata Motors.

Tata Passenger Vehicle Q2 performance

Tata Motors’ Passenger Vehicles (PV) and Electric Vehicles (EV) divisions delivered a robust performance in Q2, supported by strong festive demand, improved Vahan market share and continued traction across alternative powertrains.

The PV and EV segment's revenue came in at ₹13,500 crore, up 15.6% year-on-year, driven by volume growth of 1,44,500 units. EBITDA margin stood at 5.8%, declining 40 bps YoY, while EBIT margin came in at 0.2%.

The segment recorded a sharp sequential improvement, with EBITDA and EBIT margins expanding at 180 bps and 300 bps respectively. Notably, the PV (ICE) business posted EBITDA margin of 6.4% (-210 bps YoY), while the EV business saw a significant improvement to 4.2% (+920 bps YoY), Tata Motors said.

Tata Motors’ Vahan registration market share stood at 12.8% in the second quarter, while its EV Vahan market share surged to 41.4%. The company secured second ranking in Vahan market share in September and October.

Festive-season demand provided a major lift, with over 1 lakh vehicle deliveries between Navratri and Diwali, registering 33% YoY growth.

Tata Motors expects festive momentum and a strong order pipeline to support healthy retail performance in third quarter, along with lean inventory levels. The company is preparing multiple product actions—including the new Sierra nameplate and Harrier/Safari petrol variants—which are expected to further strengthen volumes.

Tata Motors shares ended 1.27% lower at ₹392.90 ahead of its earnings announcement.