Tata Motors PV posts quarterly loss as JLR restructuring costs bite

Tata Motors Passenger Vehicles recorded a consolidated loss of 55.31 billion rupees for July to September, compared with a profit of 761.7 billion rupees in the same quarter a year earlier. Business Recorder reported that a 67.38 billion rupee exceptional charge contributed to the reversal, while quarterly revenue increased to 969.20 billion rupees from 723.49 billion rupees.

Costs tied to restructuring, including employee separation and asset impairments, weighed on results as the company addressed challenges at Jaguar Land Rover (JLR). The British unit is still dealing with the effects of a cyberattack that affected production and sales last year, and its results remain important to Tata Motors’ profitability. The company is also working to improve margins and cash generation; its results followed profit declines at Maruti Suzuki and Hyundai Motor India, while Mahindra and Mahindra reported growth.