Tata Motors reported an increase in its net automotive debt during the July-September quarter.

What Happened: The auto major's net automotive debt stood at ₹22,00 crore, up 18% from the ₹18,600 crore net debt posted at the end of June 2024. JLR's net debt also climbed up to ₹13,500 crore, from the ₹10,500 crore posted at the end of the September quarter.

The auto giant said that the increase in debt of JLR was primarily due to operating cash outflows during the period. The company also added that it remains confident of becoming debt-free by the end of this financial year.

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The India business which turned net cash at the end of FY24 has now reported a net debt position of around ₹700 crore.

The company reported its earnings for the quarter earlier today. The automaker’s net profit fell 11% year-on-year to ₹3,343 crore, while revenue dropped 3.5% to ₹1.01 lakh crore. Analysts had forecasted a net profit of ₹4,621.8 crore and revenue of ₹1.02 lakh crore.

Price Action: Tata Motors' share price was down 1.74% to trade at ₹804.45 on Friday.

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