Tata Motors Q2 results: Net profit at Rs 3,764 crore; revenue climbs 32%

Tata Group firm Tata Motors Ltd reported a net profit of Rs 3,764 crore for the quarter ended September 2023 against a loss of Rs 944.61 crore in the September 2022 quarter. Tata Motors revenue rose 32% to Rs 1.04 lakh crore in Q2 against Rs 78,846 crore in the corresponding period of the preceding fiscal.

Operating margin in percentage terms climbed to 13.19% in the last quarter against 7.67% in the September 2022 quarter.

EBITDA zoomed 86.4% to Rs 14,400 crore. 

Earnings per share rose to Rs 9.81 in the last quarter against (minus) Rs 2.47 in the September 2022 quarter. Debt to equity ratio fell to 2.23 in Q2 of this fiscal against 5.21 in the September 2022 quarter. 

"With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum," said PB Balaji, group chief financial officer at Tata Motors. 

Revenues of Tata Motors' UK arm Jaguar Land Rover (JLR) rose 30.4% to £6.9b. Strong wholesales and improved mix resulted in EBIT margins of 7.3%, rising 630 bps). Commercial vehicle revenues climbed 22.3% and EBIT improved 560 bps to 7.9% benefiting from higher realisations, richer mix and favourable commodity prices.

Personal vehicle revenues fell 3.0%, impacted by the transition to the new launches while EBIT margins improved by 140 bps to 1.8% due to savings in commodity costs.

The earnings were announced after market hours today. Tata Motors shares ended 1.51% higher at Rs 636.80 against the previous close of Rs 627.35 on BSE. Market cap of the firm rose to Rs 2.11 lakh crore.

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