Tata Motors Q3 Preview: PAT may fall 14% YoY; JLR revenues to be under pressure
Tata Motors is expected to report marginal growth in revenues in the third quarter, which will be supported by growth in JLR and India PV divisions.
Revenue from operations is likely to rise 3% year-on-year (YoY), according to an average estimate of four brokerages, while profit after tax (PAT) may decline 14% YoY.
Analysts expect JLR volumes (excluding China JV) to decline by 4% YoY, led by a weakness in the EU and China markets. Overall, revenues for the business (ex China JV) could drop 4% YoY in 3QFY25, driven by volume slump.
Here's what to expect from Tata Motors Q3:
Kotak Equities
It estimates standalone business revenues to decline 4% YoY in 3QFY25, led by a 1% YoY decline in volumes and 2.5% YoY drop in ASPs. Overall, EBITDA margin is expected to increase 40 bps YoY, driven by commodity tailwinds.
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