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Tata Motors Q2 Results: Its revenue during July-September 2024 also fell to Rs 1,00,534 crore.
Tata Motors Q2 Results.
Tata Motors on Friday reported a 9.9 per cent decline in its consolidated net profit to Rs 3,450 crore for the second quarter ended September 2024 (Q2 FY25). Its revenue during July-September 2024 also fell to Rs 1,00,534 crore, compared to Rs 1,04,444 crore in the year-ago period.
Its net profit had stood at Rs 3,832 crore in the corresponding period last year, according to a regulatory filing.
Tata Motors’ luxury unit Jaguar Land Rover and commercial vehicles business slow sales hit the automaker’s revenue.
Total expenses stood at Rs 97,330 crore against Rs 1,00,649 crore in the same quarter a year ago, the company said.
Share of Tata Motors on November 8 declined by 1.72 per cent to close at Rs 805.7 apiece on the BSE, ahead of the Q2 results. The stock has plummeted by 31.6 per cent from its peak of Rs 1,179 on July 30, 2024.
Tata Motors said it remains cautious on near-term domestic demand.
“However, the festive season and substantial investments in infrastructure should help bolster it. JLR wholesales are expected to improve sharply, as supply challenges ease. Overall, we expect an all-round improvement in performance in H2 FY25 and the business to become net debt free by this year,” said the company in a press release.
