Tata Motors Passenger Vehicles (TMPV) on November 14 reported a multi-fold surge in net profit at Rs 76,170 crore for the quarter ended September 30, 2025, as the carmaker had a one-time gain tied to the demerger of its commercial vehicles unit. Its net profit was Rs 3,446 crore in the year-ago period.
The carmaker's revenue fell 14% year-on-year (y-o-y) to Rs 72,349 crore in Q2FY26 as against Rs 83,656 crore in Q2FY25.
The performance was significantly impacted by the cyber incident at Jaguar Land Rover (JLR). Although the domestic performance was steady during the quarter, it rebounded post the Goods and Services Tax (GST) reductions.
In a regulatory filing, TMPV said: "The overall global situation remains challenging. To respond effectively, we will focus on stabilising production and increasing resilience throughout the extended supply chain. In parallel, we will step up our brand-led actions to drive up demand for our products and accelerate initiatives aimed at enhancing savings and cash flow."
"Domestic business continues to witness robust demand following the rollout of GST 2.0, and we will drive growth through new product interventions and strong marketing actions. Overall, we expect an all-round improvement in performance in H2 FY26," it added.
The JLR volumes took a hit during the quarter owing to production stoppages in September after the cyber incident and the planned wind-down of legacy Jaguar models ahead of the launch of the new Jaguar. While the Q2 wholesales dropped 24.2% y-o-y to 66,000 units, the retails fell 17.1% y-o-y to 85,000.
From October 8, JLR restarted global manufacturing in a phased manner, with the production now returning to normal levels.
The total PV wholesales (domestic and exports) of TMPV jumped 10% y-o-y to 1,44,397 units in the September quarter. In the domestic market, the PV volumes rose 8% y-o-y to 1,40,189 units, while the exports increased 411% y-o-y to 4,208 units.
According to the company, its Vahan registration market share was at 12.8% in Q2 FY26, while the electric vehicle (EV) Vahan market share came in at 41.4% during the quarter. Its micro-SUV, the Punch, became India's fastest SUV to cross the 6,00,000 sales milestone in just under four years. Also, the compact SUV, Nexon, emerged as the largest-selling car in India in September as well as October.
Leveraging festive momentum, TMPV retailed over 1,00,000 vehicles between Navratri and Diwali, resulting in a festive growth of 33% y-o-y.
"Q2 FY26 was a landmark quarter for TMPV, marked by double-digit y-o-y growth in wholesale volumes and registrations, alongside several record-breaking milestones. Our growth was powered by our multi-powertrain portfolio, with CNG and EV volumes accounting for 45% of our volumes in Q2. EV sales surged by nearly 60% y-o-y with nearly 25,000 units sold in Q2, reaffirming our leadership in sustainable mobility," said Shailesh Chandra, Managing Director and CEO, TMPV.
"With a robust booking pipeline and rising consumer confidence, we are poised to sustain this momentum in H2 FY26, guided by our unwavering commitment to innovation and several new launches ahead," he added.
TMPV is now gearing up to launch the internal combustion engine (ICE) version of the Sierra SUV and the petrol-powered Harrier and Safari.
"It has been a difficult period for the business. However, we are committed to emerging from the cyber incident even stronger. With the demerger completed, both JLR and domestic PV businesses are well poised to leverage the significant opportunities provided by this exciting industry. Demand situation remains challenging globally, but domestically, there are signs of resurgence. In this context, our strategy is clear, plans robust, and we will continue to execute them with speed and rigour to win," said PB Balaji, Group Chief Financial Officer, Tata Motors.
On November 14, the stock closed 1.3% lower at Rs 392.9. The results were announced in post-market hours.
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