Tata Motors PV Q2 Results: Tata Motors Passenger Vehicles (TMPV) released its September quarter (Q2 FY26) results on November 14. The company’s net profit increased manifold to ₹76,170 crore. It was ₹3,446 crore in the same quarter last year.
This increase is mainly due to one-time gain related to the demerger of the company’s commercial vehicle unit. The company’s revenue declined 14% year-on-year to ₹72,349 crore in the September quarter, from ₹83,656 crore last year.
Jaguar Land Rover (JLR), the passenger vehicle business unit of Tata Motors Limited, has given a big shock in its September quarter results. The company has reduced its EBIT margin outlook for the full fiscal year to 0% to 2%, from 5% to 7% earlier. This change reflects the weak quarterly performance of the company.
Free cash outflow will increase, investment will remain high
JLR forecasts its free cash outflow will rise to between £2.2bn and £2.5bn this year. Earlier it was almost zero. The company also said that its total investment expenditure (Capex) over the next five years (starting FY24) will be around £18 billion.
Losses increased, income decreased in September quarter
JLR suffered a loss before tax and exceptional items of £485 million in the September 2025 quarter. The company’s revenue fell 24.3% to £24.9 billion. EBITDA margin stood at -1.6% and EBIT margin at -8.6%, a decline of 1,370 basis points from last year.
Shock to Tata Motors PV business also
JLR’s decline had a direct impact on Tata Motors’ passenger vehicle (PV) business. If the one-time gain is removed, the company’s adjusted loss stood at ₹6,370 crore, compared to a profit of ₹3,056 crore in the same quarter last year.
The company’s EBITDA stood at a loss of ₹1,404 crore in the quarter, compared to a profit of ₹9,914 crore last year. This is the first time that Tata Motors’ PV business is reporting results as a standalone unit. JLR contributes more than two-thirds to Tata Motors’ total business.
Impact on performance due to cyber attack
Tata Motors PV said that the recent cyber attack on JLR has significantly affected the company’s operations and performance. According to the company, due to this incident both production and supply chain were affected.
Company performance in India
On a standalone basis in India, Tata Motors PV suffered an adjusted loss of ₹237 crore. The company had earned a profit of ₹15 crore in the same quarter last year. However, the company’s revenue increased by 6% to ₹12,751 crore. It was ₹12,023 crore last year.
But EBITDA declined to ₹303 crore from ₹717 crore. EBITDA margin also declined from 6% to 2.4%.
decline in share price
Shares of Tata Motors PV closed 1.27% lower at ₹392.90 on Friday, ahead of the results announcement. This is below its discovery price of ₹400 per share. The market cap of the company is Rs 1.48 lakh crore.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.