Tata Motors Q2 Results Preview: Auto major likely to post net profit of ₹3,994 crore; revenue may rise 33% YoY
Tata Motors Q2 Results: Tata Motors, the passenger cars and commercial vehicle manufacturer, is set to announce its financial results for the quarter ended September 2023 today. The automobile major is expected to remain profitable during the quarter as against reporting a net loss in the corresponding quarter of last fiscal.
The automobile sector saw strong dispatches for SUV fueled by order book execution and improvement in supply chain situation. However, demand moderated for lower-end passenger vehicles (PV).
Among all the segments, MHCV appeared to be better placed despite a drop in discounts, driven by healthy demand across most of the underlying industries, analysts said. Read Tata Motors Q2 Results Live Updates here Tata Motors, which also owns luxury car brand Jaguar Land Rover (JLR), is estimated to report a net profit of ₹3,994 crore in the second quarter of FY24 led by lower commodity prices, operating leverage and volume ramp-up at JLR, as per average estimates of six brokerages.
The auto major is expected to report total revenue of ₹1,05,883 crore in the quarter ended September 2023, registering a growth of 33% from ₹79,611.4 crore in the year-ago quarter. The company’s India business performance was a mixed bag as commercial vehicle (CV) volumes grew 3.5% YoY while passenger vehicle (PV) volumes fell 3% YoY.
JLR volumes are expected to grow YoY due to easing chip shortage situation and continued traction in new models. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) At the operational level, Tata Motors’ earnings before interest, tax, depreciation and amortization (EBITDA) during the July-September
. Read more on livemint.com
