Mumbai – Tata Motors Passenger Vehicles Ltd. (TMPV) has announced a staggering 2,065% increase in profit for the second quarter of fiscal year 2026, reaching Rs 76,248 crore. This dramatic surge is largely attributed to a one-time notional gain of Rs 82,616 crore following the company’s recent demerger, separating its passenger and commercial vehicle divisions. In comparison, the company reported a profit of Rs 3,521 crore in the corresponding period last year and Rs 4,003 crore in the previous quarter (Q1 FY26).
While profit figures were exceptional, TMPV reported a 13.5% year-on-year decline in revenue, totaling Rs 72,349 crore. The company attributed this dip to the recent cyber incident affecting Jaguar Land Rover (JLR), a subsidiary of Tata Motors. “The performance was impacted significantly by the cyber incident at JLR. Domestic performance was steady during the quarter but rebounded post-GST reductions,” the company stated.
Despite the revenue challenges, Tata Motors is experiencing significant growth in its electric vehicle (EV) segment. According to Shailesh Chandra, Managing Director & CEO, “Our growth was powered by our multi-powertrain portfolio, with CNG and EV volumes accounting for 45 per cent of our volumes in Q2. EV sales surged by nearly 60 per cent y-o-y with nearly 25,000 units sold in Q2, reaffirming our leadership in sustainable mobility.”
Chandra highlighted September as a particularly strong month, with record overall sales of 60,000 units. He expressed optimism for the future, stating, “This strong market performance translated into improving revenues and q-o-q (quarter-on-quarter) improvement in profitability. With a robust booking pipeline and rising consumer confidence, we are poised to sustain this momentum in H2 FY26, guided by our unwavering commitment to innovation and several new launches ahead.”
The demerger, completed earlier this financial year, has positioned both the passenger and commercial vehicle businesses to capitalize on distinct market opportunities, according to PB Balaji, Group CFO of Tata Motors. “However, we are committed to emerging from the cyber incident even stronger. With the demerger completed, both JLR and domestic PV businesses are well poised to leverage the significant opportunities provided by this exciting industry,” Balaji said.
Balaji acknowledged the challenging global demand situation but noted signs of resurgence in the domestic market. “In this context, our strategy is clear, plans robust and we will continue to execute them with speed and rigour to win,” he concluded. The company’s focus remains on navigating the current economic landscape while leveraging its strengths in both traditional and emerging vehicle technologies.
