Tata Motors reported its earnings for the quarter ended September on Friday after market close. The numbers missed analyst estimates.

What Happened: The automaker's net profit for the quarter under review stood at ₹3,343 crore, an 11% slump from the ₹3,764 crore posted in the same quarter last year.

The company's revenue from operations slumped around 3.5% year-on-year, to ₹1.01 lakh crore, compared to the ₹1.05 lakh crore posted in the corresponding quarter of the previous year.

Analysts predicted the Jaguar Land Rover maker to post ₹4,621.8 crore net profit and ₹1.02 lakh crore revenue. Analysts anticipated the Tata Group company to post weak revenue due to muted volumes from both commercial and passenger vehicles.

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The company reported EBITDA at ₹11,600 crore, representing an EBITDA margin of 11.4%. This marks a contraction of 230 basis points compared to last year’s quarter.

The commercial vehicles segment’s Revenue was at ₹17,288 crore for the September quarter, compared to ₹17,849 crore in the previous quarter and ₹20,087 crore in the same quarter last year.

Passenger vehicles business’ revenue stood at ₹11,701 crore, slightly down from ₹11,847 crore in the June quarter and ₹12,173 crore in the corresponding quarter last year.

JLR’s revenue came in at ₹71,100 crore, a decline from ₹76,899 crore in the previous quarter but an increase from ₹71,786 crore in the same quarter last year.

The company said that it remains cautious about near-term domestic demand, though the festive season and significant infrastructure investments should provide support. JLR wholesales are anticipated to see substantial improvement 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,” the company added in the press release.

Shares of the auto giant have remained under pressure over the past few months as the company has been dealing with a decline in sales during the quarter.

The Tata Group firm’s total vehicle sales in both domestic and international markets reached 2.15 lakh units in Q2 FY25, marking a decline of nearly 12% from the 2.43 lakh units sold in the same period last year.

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

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