Tata Motors PV swings to quarterly loss amid JLR restructuring costs

New Delhi, Nov 13 (PTI) Tata Motors Passenger Vehicles Ltd (TMPVL) on Friday reported a consolidated loss of Rs 5,531 crore for the September quarter compared with a profit of Rs 76,170 crore in the year-ago period.

     According to an exchange filing, the company reported exceptional items of Rs 6,738 crore, primarily comprising Rs 3,776 crore in employee separation costs and Rs 2,856 crore in impairment of assets.

     The company said its luxury brand Jaguar Land Rover (JLR) recorded exceptional items of £530 million in the quarter, reflecting restructuring activities, including separation costs and the write-down of intangible assets under development.

     The automaker's consolidated revenue from operations rose 34 per cent on year to Rs 96,920 crore. The company said its EBITDA margin rose 630 basis points to 6.2 per cent during the period.

     Total expenses for the quarter increased to Rs 97,827 crore from Rs 79,310 crore a year earlier, while the cost of materials rose to Rs 58,825 crore from Rs 36,300 crore.

     JLR's revenue from operations increased 20.3 per cent to £5,894 while Tata Motors Passenger Vehicle (TMPV) recorded a 50.9 per cent rise in revenue to Rs 20,423 crore.

     JLR's EBITDA margin improved 820 basis points to 6.6 per cent and TMPV's EBITDA margin fell 180 basis points to 4 per cent.

     "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 the wind-down of previous Jaguar models.However, adverse mix and persistent commodity pressures weighed on margins," said CFO Dhiman Gupta.

     "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," Gupta added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)