Tata Motors CV posts Rs 2,138 crore Q2 profit

The company posted a standalone net profit, including joint venture Tata Cummins, of ₹2,138 crore for the second quarter, compared with a loss of ₹1,021 crore a year earlier. The average of analyst estimates compiled by Bloomberg was for a net profit Rs 1933.5 crore.

Revenue from operations rose 42% to ₹23,930 crore.

Improved fleet utilisation, stronger goods movement and higher industrial activity and mining output boosted commercial vehicle sales during the quarter, managing director and chief executive Girish Wagh said in a post-earnings media call.

“Even as we expect growth in the second half of the year to moderate due to last year’s high base, the industry should end FY27 with double-digit growth and Tata Motors is likely to outperform,” he said.

The company generated free cash flow of ₹4,606 crore during the quarter, taking its net cash position to ₹11,300 crore.

Wagh said Tata Motors maintained margins sequentially through cost management, operational efficiencies and calibrated pricing actions, despite higher steel and rubber costs. The margin at 11.7%, however, fell 0.9 percentage points from a year earlier.

The standalone results also included an exceptional gain of ₹218 crore, mainly due to the reversal of provisions under labour codes.

On a consolidated basis, including contributions from subsidiaries, the company reported a net profit of ₹1,257 crore, compared with a loss of ₹867 crore a year earlier. Revenue rose more than 36% to ₹25,338 crore from ₹18,585 crore.

The company attributed the improvement in consolidated profit partly to a lower mark-to-market loss on investments in Tata Capital Ltd. Its consolidated net cash position stood at ₹15,900 crore at the end of September.

Total wholesale volumes rose 42% to 135,100 units during the quarter, with domestic sales increasing 30% and exports growing 177%. It had a 36.2% share in India’s commercial vehicle market in the first half of FY27, compared with 35.1% in FY26.