Revenue Rs101.5K Cr (-3.5%), EBITDA at Rs11.6K Cr
PBT (bei) Rs5.8K Cr (-0.4K Cr), Automotive Free Cash Flows Rs(2.9)K Cr
Mumbai, November 08, 2024: Tata Motors Ltd. (TML) announced its results for quarter ending September 30, 2024.
Tata Motors Consolidated:
TML delivered revenues of Rs101.5K Cr (down 3.5%), EBITDA at Rs11.6K Cr (11.4%, down 230bps) and EBIT of Rs5.6K Cr (5.6%, down 190bps) in a challenging external environment. PBT (bei) for Q2 FY25 stood at Rs5.8K Cr down Rs391 Cr while Net Profit was Rs3.5K Cr. For H1 FY25, the business reported a strong PBT (bei) of Rs14.6K Cr, an improvement of Rs2.9K Cr over the previous year.
JLR revenue was down by 5.6% to £6.5b. As highlighted last quarter, JLR performance was impacted by temporary supply constraints which resulted in EBIT margins of 5.1% (down 220bps). CV revenues were down by 13.9% but EBITDA margins improved to 10.8% (up 40 bps) on favourable pricing and material cost savings despite adverse volumes. PV revenues were down by 3.9% but EBITDA margins were steady at 6.2% (down 30 bps) through mix improvements and cost reduction actions.
Looking Ahead:
We remain cautious on near-term domestic demand. However, the festive season and substantial investments in infrastructure should help bolster it. JLR wholesales are expected to improve sharply, 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.
PB Balaji, Group Chief Financial Officer, Tata Motors said:
“Growth in the quarter was impacted due to significant external challenges as highlighted earlier. Overall, the business fundamentals remain strong, and we remain focused on our agenda of driving growth, competitiveness and free cash flows. As the supply challenges ease and demand picks up, we are confident of steady improvement in our performance and delivering a strong H2.”
Financial highlights
