Tata Motors Passenger Vehicles Swings To Loss In Q2 On JLR Restructuring

(MENAFN- IANS) Mumbai, Nov 13 (IANS) Tata Motors Passenger Vehicles on Friday reported a consolidated loss for the second quarter (Q2 FY27), reversing a profit recorded in the same period last financial year (Q2 FY26), as the company grappled with exceptional charges and ongoing challenges at its luxury Jaguar Land Rover (JLR) division.

The automaker posted a consolidated net loss of Rs 5,531 crore for the quarter ending September, compared to a profit of Rs 76,170 crore in the year-ago quarter, according to its stock exchange filing.

The loss was largely attributed to a one-time exceptional charge amounting to Rs 6,738 crore, it added in its filing.

JLR, Tata Motors' British luxury arm, is still recovering from a cyberattack that disrupted production and sales last year.

The division is also undergoing a significant restructuring program, which has further weighed on the company's financials.

JLR's performance continues to be a critical factor in Tata Motors' overall profitability, with additional pressure to restore margins and improve cash generation.

Despite these challenges, Tata Motors reported a rise in consolidated revenue, which increased to Rs 96,920 crore from Rs 72,349 crore a year earlier.

Dhiman Gupta, Chief Financial Officer, commented that Tata Motors Passenger Vehicles maintained strong momentum in its domestic business during Q2 FY27, and JLR delivered resilient volumes despite global challenges and the phase-out of previous Jaguar models.

"In Q2 FY27 TMPV continued to build on its strong momentum in the domestic business, while JLR delivered resilient volumes despite global market specific challenges and wind-down of previous Jaguar models," he said.

"However, adverse mix and persistent commodity pressures weighed on margins. Both businesses remain fundamentally strong, and we stay focused on executing our medium-term priorities: driving growth through new launches, accelerating cost reductions and improving cash generation,” he added.

Following the results announcement, Tata Motors Passenger Vehicles shares closed 3.5 per cent lower at Rs 287 apiece on November 13. The quarterly results were released after market hours.

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