Tata Motors Consolidated Q2 FY24 results showed a strong performance in all auto verticals, with revenues at ₹105.1K Cr (+32.1%), EBITDA at ₹14.4K Cr (+86.4%), and EBIT of ₹7.8KCr (+₹5.9KCr). The company reported a strong PBT (bei) of ₹11.4KCr, an improvement of ₹18.2KCr over the previous year. Net Automotive debt reduced to ₹38.7KCr.
JLR revenue increased by 30.4% to £6.9b, while Tata CV revenue increased by 22.3% and EBIT improved to 7.9%. Tata PV revenue decreased by 3.0%. The company aims to deliver a stronger performance in H2 due to a healthy order book at JLR, strong demand for heavy trucks in CV, and exciting new-generation products in PV. The financial performance is expected to improve further due to a richer mix, continued low break even in JLR, demand-pull strategy in CV, and improved profitability in PV/EV.
Talking about the result PB Balaji, Group Chief Financial Officer, Tata Motors said, “It is pleasing to see all the businesses deliver on their well-differentiated plans this quarter. With a strong product pipeline, a seasonally stronger H2, and continued focus on cash accretive growth, we are confident of sustaining this momentum.”
