(MENAFN- IANS) Mumbai, Nov 14 (IANS) Tata Motors Passenger Vehicles (TMPV) on Friday reported a multi-fold jump in its consolidated net profit to Rs 76,170 crore for the second quarter of the current financial year (Q2 FY26), driven by an Rs 82,616 crore one-time gain from the demerger of its commercial vehicles business.

The Tata Group company had posted a net profit of Rs 3,446 crore in the corresponding quarter last year.

Despite the exceptional gain, TMPV's revenue fell 14 per cent year-on-year to Rs 72,349 crore in Q2 FY26, compared with Rs 83,656 crore in Q2 FY25.

Excluding the demerger-related gain, the automaker slipped into a net loss of Rs 6,368 crore as performance was hit by a sharp decline in Jaguar Land Rover (JLR) volumes. In the year-ago period, the company had reported a net profit of Rs 3,056 crore on a comparable basis.

The quarter was significantly disrupted by the cyberattack at JLR, which impacted production and deliveries. TMPV, however, said that its domestic business remained resilient, and demand improved following the GST rate reductions, aiding recovery towards the end of the quarter.

JLR, which contributes nearly two-thirds of Tata Motors' consolidated business, saw its revenue drop 24.3 per cent year-on-year, while revenue from the domestic passenger vehicle segment rose 15.6 per cent to Rs 13,500 crore.

At the operating level, the company reported an EBITDA loss of Rs 1,404 crore - a sharp reversal from the Rs 9,914 crore profit recorded in the September 2024 quarter.

On Friday, the stock closed 1.3 per cent lower at Rs 392.9. The results were declared after market hours.

“Q2 FY26 was a landmark quarter for Tata Motors Passenger Vehicles, marked by double-digit year-on-year growth in wholesale volumes and registrations, alongside several record-breaking milestones," said Shailesh Chandra, Managing Director and CEO, Tata Motors Passenger Vehicles Limited.

"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. September was particularly noteworthy, with record overall sales of 60k units and several other milestones," he added.

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