Tata Motors reported an increase in its net automotive debt during the April-June quarter.

What Happened: The auto major’s net automotive debt stood at ₹18,600 crore, up 16% from the ₹16,000 crore net debt posted at the end of March 2024. JLR’s net debt also climbed up to ₹10,500 crore, from the ₹7,700 crore posted at the end of the March quarter.

This quarterly decline in the debt position of JLR was attributed to a dividend of £387 million (around ₹4,137 crore) paid to the parent company TML Holdings and other net debt adjustments amounting to £96 million (around ₹1,026 crore).

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The India business which turned net cash last quarter has now reported a net debt position of around ₹1,000 crore. The company said that the focus on deleveraging continues. The Tata Group company added that Q1 net debt was slightly higher due to seasonality.

The company posted its earnings for the quarter ended June on Thursday evening. The auto manufacturer reported a net profit of ₹5,566 crore for the quarter, marking a 73% increase from ₹3,203 crore in the same period last year. Revenue for the quarter reached ₹1.08 lakh crore, up 6% from ₹1.02 lakh crore reported in the corresponding quarter of the previous year.

Price Action: Tata Motors' share price was down 1.21% to close at ₹1,142.65 on Thursday.

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