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Informist, Thursday, Feb. 5, 2026

 

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--Tata Motors PV Oct-Dec consol net loss INR 34.86 bln
--Analysts saw Tata Motors PV Oct-Dec consol net loss at INR 31.29 bln
--Tata Motors PV Oct-Dec consol revenue INR 701.08 bln
--Analysts saw Tata Motors PV Oct-Dec consol revenue at INR 715.69 bln
--Tata Motors PV Oct-Dec consol loss INR 34.86 bln vs PAT INR 54.06 bln yr ag
--Tata Motors PV Apr-Dec consol PAT INR 766.07 bln vs INR 193.59 bln yr ago
--Tata Motors PV Oct-Dec consol revenue INR 701.08 bln vs INR 944.72 bln yr ago
--Tata Motors PV Oct-Dec net loss includes one-time cost INR 15.97 bln
--Tata Motors PV Apr-Dec consol revenue INR 2.30 tln vs INR 2.68 tln yr ago
--Tata Motors PV Oct-Dec new labour codes implementation cost INR 4.27 bln
--Tata Motors PV Q3 suplier claim, cyber incident one-time cost INR 7.78 bln
--Tata Motors PV Q3 acquisition/demerger one-time cost INR 4.21 bln
--Tata Motors PV Q3 net loss excluding one-time costs INR 18.89 bln 
--Tata Motors PV Oct-Dec consol EBITDA margin 2.2%, down 1120 bps on year 
--Tata Motors PV Oct-Dec consol EBIT margin -4.7%, down 1290 bps on year 
--Tata Motors PV Q3 JLR revenue 4.54 bln pound sterling, down 39.4% on yr 
--Tata Motors PV Q3 JLR EBITDA margin 0.7%, down 1,350 bps on yr 
--Tata Motors PV Q3 JLR EBIT margin -6.8%, down 1,580 bps on yr 
--Tata Motors PV: JLR reaffirms FY26 EBIT margin guidance 0-2% 
--Tata Motors PV: Expect JLR performance to 'improve significantly' in Q4 
--Tata Motors PV: Sierra to drive volume growth, enhance pdt mix 
--Tata Motors PV: See a sharp recovery in Q4 on normalisation of JLR volumes 
--Tata Motors PV: Introduce new pdt interventions to strengthen EV portfolio 
--Tata Motors PV: To Re-enter fleet segment with Xpres petrol, CNG versions 
--Tata Motors PV: Reduced channel inventory to under 15 days in Q3 
--Tata Motors PV: Reduced channel inventory in Q3 on high retail demand 
 

 

By Anand JC and Suryash Kumar

 

MUMBAI – The December quarter consolidated earnings of Tata Motors Passenger Vehicles Ltd. came under pressure from the lingering impact of a crippling cyberattack in August, which had sapped the momentum of its UK-based subsidiary Jaguar Land Rover, offsetting an otherwise strong performance back home. 

 

The Sierra maker reported a consolidated net loss of INR 34.86 billion for the reporting quarter compared to a net profit of INR 54.06 billion in the year-ago quarter and a profit of INR 761.70 billion in the September quarter. The company's bottom-line performance for the December quarter was worse than consensus estimates, which had pencilled a net loss of INR 31.29 billion.

 

Its consolidated top line for the December quarter was INR 701.08 billion, down 26% on year and 3.1% on quarter. Tata Motors Passenger Vehicles' top line was below analysts' expectations of INR 715.69 billion.

 

"The performance continued to be impacted significantly by the cyber incident at JLR, as indicated earlier. The domestic performance improved QoQ (quarter on quarter) on account of higher volumes and incentives," the company said in a press release. 

 

Operations of its luxury car arm in the December quarter continued to feel the heat of the August cyberattack, which dragged down its top line and bottom line. Consolidated revenue of JLR fell to INR 538.49 billion, down almost 34% on year and nearly 7% on quarter. The revenue fell 39% on year to 4.5 billion pound sterling in the reporting quarter.

 

"Volumes (of JLR) impacted following the cyber incident and the time taken thereafter to distribute vehicles globally, as vehicle production returned to normal levels by mid-November," the company said. "Volumes also impacted by planned wind down of legacy Jaguar models ahead of new Jaguar launch, a deterioration of market conditions in China, and ongoing incremental US tariffs impacting JLR's US exports," the company said.

 

JLR's earnings before interest and tax margin were negative 6.8%, down 1,580 basis points on year.

Excluding tax and exceptional items, JLR reported a loss of 310 million pound sterling, compared to a profit before tax and exceptional items of 523 million pound sterling in the year-ago quarter.

JLR's wholesale volumes were 59,100 for the December quarter, down 43.4% on year, while its retail sales were 79,800, down 25% on year. The wholesale volume comprised Range Rover, Defender, Discovery and Jaguar, with 31,800 units, 21,600 units, 4,500 units, and 1,300 units, respectively, in the December quarter. Region-wise, the wholesale volume comprised 17,400 units in the UK, 13,600 units in North America, 11,300 units in Europe, 5,000 units in China, 6,500 units in West Asia and North Africa and 5,300 units overseas for the December quarter.

 

JLR said its volume and profitability were impacted by the planned wind-down of legacy Jaguar models ahead of the new Jaguar launch, as well as by deteriorating market conditions in China. JLR also reaffirmed its guidance for the financial year 2025-26, with an EBIT margin of 0% to 2%.

 

JLR's earnings before interest, tax, depreciation and amortisation margin was 0.7%, down 1,350 bps on year. The company also said its business is well-positioned for significantly improved performance in Jan-Mar and expects a sharp recovery as JLR volumes normalise.

 

Tata Motors Passenger Vehicles' EBITDA margin was 2.2%, down 1120 bps on year. The company's EBIT margin was -4.7%, down 1290 bps on year. 

 

Tata Motors Passenger Vehicles' revenue from the passenger vehicle segment in India for the reporting quarter was INR 153 billion, with its EV offtake volumes, including exports, being 24,100 units. This is up nearly 50% on year, but down over 3% on quarter. The company also said that it will introduce new product interventions to strengthen its EV portfolio.

 

The average quarterly offtake, including exports, of the India business was 170,500 units for the December quarter, up 18% on quarter. The company's India EBITDA margin was 7% in the reporting quarter, down 80 bps on year but up 120 bps on quarter. The EBIT margin was 1.2% for the December quarter, down 50 bps from 1.7% in the year ago quarter. The company ranked second in India based on Vahan data, with a market share of 13.8% in the December quarter, up 100 bps sequentially.

 

The Indian carmaker is focusing on volume growth on the back of product launches and sustained EV growth momentum, by strengthening the portfolio and driving mainstream adoption.

 

Tata Motors Passenger Vehicles remains confident about passenger vehicle demand, which has been boosted by the cut in the goods and services tax. "With our product launches and interventions commencing deliveries in Q4 (Jan-Mar) and a strong slate of upcoming launches, Tata Motors PV is well poised to accelerate its growth trajectory in FY27," the company said.

 

"In Q3 (Oct-Dec) FY26, we recorded our highest-ever quarterly wholesales at 171k (171,000) units, while retail sales crossed the 200k (200,000) mark for the first time, driven by strong demand tailwinds from GST 2.0 and a robust festive season. With a strengthened value proposition for our products, we witnessed robust demand during the quarter," Shailesh Chandra, managing director and chief executive officer of Tata Motors Passenger Vehicles, said.

 

The company reported a one-time cost of INR 15.97 billion in the December quarter, down from INR 26.08 billion in the September quarter. Exceptional costs for the December quarter include INR 7.78 billion spent towards supplier claims and cyber-attack-related expenses. The company had spent INR 20.08 billion on these in the September quarter.

 

In addition, it incurred one-time costs of INR 4.27 billion for employee benefits and INR 800 million for employee separation costs following the implementation of the new Labour Codes in November last year. The company also had an additional one-time spend of INR 4.21 billion towards its acquisition and demerger. All of this was partly offset by a one-time gain of INR 1.09 billion, arising from the reversal of restructuring costs.

 

Tata Motors Passenger Vehicles' net loss excluding one-time costs was INR 18.89 billion in the December quarter. The consolidated net profit for the nine months ended December was INR 766.07 billion, up from INR 193.59 billion a year ago. The company's revenue for the period was INR 2.30 trillion, down from INR 2.68 trillion a year ago. 

 

The company also announced that it will re-enter the fleet segment with petrol and CNG versions. The company said it reduced channel inventory to below 15 days in the December quarter due to strong retail demand.

 

The company detailed its earnings after market hours. Thursday, the company's shares ended at INR 374.15 apiece on the National Stock Exchange, down 0.4% from the previous close.  End

 

Edited by Saji George Titus

 

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