Mumbai, Aug 13 (SocialNews.XYZ) Tata Motors Passenger Vehicles Limited on Thursday reported a sharp decline in profitability for the first quarter of FY27, with consolidated net profit falling more than 80 per cent year-on-year (YoY).
According to the company's regulatory filing, consolidated net profit dropped 80.3 per cent to Rs 775 crore in the June quarter from Rs 3,924 crore in the corresponding period last financial year (Q1 FY26).
The automaker's revenue rose 9.3 per cent year-on-year (YoY) to Rs 95,799 crore, compared with Rs 87,677 crore in the year-ago quarter, it added in its filing.
At the operating level, performance remained under pressure. EBITDA declined 17.2 per cent to Rs 6,326 crore during the quarter from Rs 7,639 crore a year earlier.
As a result, the company's EBITDA margin narrowed to 6.6 per cent, compared with 8.7 per cent in the corresponding quarter of the previous financial year, as per the filing.
Commenting on the performance, Shailesh Chandra, Managing Director & CEO, Tata Motors Passenger Vehicles Limited said that Q1 FY27 marked a strong start to the year for Tata Motors PV, with industry-beating 46 per cent YoY volume growth driven by robust customer demand and the success of our recent launches.
“Our leadership in electric mobility strengthened further, with record quarterly EV volumes of over 34,000 units and 112 per cent YoY growth,” he added.
“The new avatars of Tiago and Punch have received a strong response, with robust bookings across powertrains, reinforcing the strength of our multi-powertrain strategy. We are encouraged by the growing adoption of EVs across segments and the rapid mainstreaming of electric mobility in India,” Chandra noted.
Dhiman Gupta, Chief Financial Officer, TMPVL said: “Q1 FY27 was a quarter where we focused on carrying forward the growth momentum in the domestic business and preparing for an important transition year at JLR.”
Source: IANS
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