Tata Motors revvs up for Q3 with new models, festive buzz, and a little extra inventory
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Moreover, despite observing a five per cent decline in registrations in the second quarter of FY25, Tata Motors expects a robust demand in the next quarter owing to the festive season.
“The Passenger Vehicle industry in Q2 FY25 witnessed 5% decline in registrations, resulting in continued build-up of channel inventory. Sales of EVs were additionally impacted by lapse of certain subsidies. We moderated our offtakes in Q2 to proactively keep our channel inventory under control. Q3 has started off with a resurgence in industry demand on the back of a robust festive season,” said said Shailesh Chandra, Managing Director TMPV and TPEM.
The company reported that its consolidated net profit for the quarter ended September 2024 fell 11.18% year-on-year (YoY) to Rs 3,343 crore, much lower than Street estimates of Rs 5,038 crore as reflected in an ET Now.
During the quarter, its revenue dropped 3.5% YoY to Rs 101,450 crore.
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