Tata Motors Passenger Vehicles reports ₹5,531 crore loss in Q2
What's the story
Tata Motors Passenger Vehicles has reported a loss of ₹5,531 crore for the second quarter (Q2) of FY2026-27. The company's Chief Financial Officer Dhiman Gupta said that adverse mix and persistent commodity pressures weighed on margins. Despite the financial setback, Gupta emphasized that businesses remain fundamentally strong and the company is focused on executing medium-term priorities like driving growth through new launches and improving cash generation.
Financial performance
Revenue from operations up 34% year-on-year
Tata Motors Passenger Vehicles' revenue from operations for Q2 FY27 stood at ₹96,920 crore, a 34% rise from ₹72,349 crore in the same period last year.
However, this figure was lower than the CNBC-TV18 poll estimate of ₹1 lakh crore.
The company's EBITDA stood at ₹4,866 crore as compared to an EBITDA loss of ₹1,404 crore in the corresponding quarter last year.
However, this too missed CNBC-TV18's poll estimate of ₹7,354 crore.
Loss details
Exceptional items during the September quarter
The company reported exceptional items worth ₹6,738 crore during the September quarter, compared with ₹2,608 crore in Q2 FY26.
Consolidated profit before tax and exceptional items stood at ₹400 crore.
This was after accounting for provisions toward employee separation costs of ₹3,800 crore and impairment of assets worth ₹2,900 crore.
Market outlook
Jaguar Land Rover's performance in Q2 FY27
Jaguar Land Rover (JLR) reported a revenue of £5.9 billion in Q2 FY27, up 20.3% year-on-year.
However, due to ongoing market challenges, geopolitical risks, and exceptional costs recognized during the quarter, JLR revised its full-year FY27 guidance.
It now expects an adjusted EBIT margin of 2-3% and free cash outflow of around £1.25 billion for the fiscal year ending March 31, 2027.