Overview
- Tata Motors Passenger Vehicles reported a consolidated net loss of roughly Rs 3,483–3,486 crore on revenue of Rs 70,108 crore, even as India PV wholesales hit a record 171,000 units in the quarter.
- Jaguar Land Rover posted a £310 million pre-tax loss with revenue down 39% year-on-year to about £4.5 billion and a quarterly EBIT margin of around -6.8%, including £64 million of additional cyber-related costs.
- The cyber incident halted JLR’s UK production for about five weeks from September 1, with output back to normal by mid-November and an estimated 50,000 vehicles lost across Q2 and Q3.
- TMPVL booked Rs 1,600 crore of exceptional items in Q3, comprising Rs 800 crore tied to the JLR cyber incident, Rs 400 crore for the new labour code, and Rs 400 crore in stamp duty.
- JLR reaffirmed FY26 EBIT guidance of 0–2% and signalled a Q4 improvement, while brokerages highlighted persistent headwinds from US tariffs, weaker China demand and legacy model wind-down, and noted net debt rising to £3.3 billion.