Tata Motors Q4 profit falls 32% to ₹5,783 crore on weak JLR performance

Mumbai: , including Jaguar Land Rover reported a 32% year-on-year fall in net profit for the quarter ended March as higher costs and headwinds at its British luxury arm cancelled out strong domestic performance.

Profit after tax at the consolidated entity declined to ₹5,783 crore in the fourth quarter of FY26 from ₹8,470 crore a year earlier, even as consolidated revenue rose 7.2% to ₹1,05,447 crore from ₹98,377 crore.

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The profit decline was lower than Bloomberg’s estimate of ₹4,351 crore as the luxury unit’s operational performance rebounded sequentially and India business continued to do well.

Consolidated Ebitda stood at about ₹13,851 crore, with margins narrowing to 13.1% from 14.4% a year earlier, reflecting pressure on profitability.

JLR chief financial officer Richard Molyneux said the company has been actively managing the impact of West Asia conflict, saying it has a “good track record of effectively managing supply chains during geopolitical shocks” and is prepared to “act swiftly to mitigate any impacts on the business.” The quarter highlighted a sharp divergence between the domestic and global businesses.Tata Motors’ India passenger vehicle (PV) operations remained the key growth driver, with revenue rising 49.4% YoY to ₹18,742 crore. Ebitda margins improved 150 basis points to 9.4%, supported by higher volumes, favourable product mix and operating leverage.

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PV and EV volumes rose 37% YoY to 201,800 units, reflecting strong demand momentum, aided by traction in SUVs and alternative powertrains.

Commenting on demand trends, Shailesh Chandra, managing director and CEO of Passenger Vehicles, said resilience has continued despite geopolitical uncertainties. “The geopolitical tension has been there since April, but when we see demand in April and May, it has remained very strong,” he said.

He said the post GST 2.0 momentum continues, though fuel prices could influence buyer behaviour.

“There might be some shift towards electric or CNG vehicles if there is a potential increase in petrol and diesel prices, and there could be some impact in the entry segment if hikes are very sharp,” he said, adding that the impact would depend on the quantum of increases. “But as of now, as we speak, the demand remains very strong,” Chandra said.