Tata Motors Shines: Q3FY24 Net Profit Soars 137.5% at ₹7,025.11 Crore

In a remarkable financial stride, Tata Motors unveiled its Q3FY24 results, showcasing a stellar surge of 137.5% in consolidated net profit, reaching ₹7,025.11 crore compared to ₹2,958 crore in the previous year. The robust performance, surpassing Street estimates, can be attributed to Jaguar Land Rover’s (JLR) impressive sales.

Tata Motors Group CFO, PB Balaji, expressed satisfaction, highlighting six consecutive quarters of consistent delivery. Balaji affirmed confidence in sustaining this performance, emphasizing the company’s de-leveraging plans. The near-term outlook remains positive for all three auto businesses, anticipating improvement in Q4 driven by seasonality, new launches, and enhanced supplies at JLR.

Here are five key highlights from Tata Motors’ Q3 scorecard:

1. Revenue and Operating Performance: The total revenue from operations rose by 25% to ₹110,577 crore in Q3, with JLR sales contributing significantly to the 27% increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 59% to ₹15,333 crore, reflecting the robust operating performance. The EBITDA margin reached 13.9%, up by 300 basis points from the previous year.

2. Profit Before Tax: Tata Motors witnessed a substantial climb in profit before tax, reaching ₹7,493 crore in Q3FY24 compared to ₹3,202 crore in the corresponding period of the previous fiscal.

Tata Motors continues to drive success with its differentiated strategies, delivering strong results and bolstering optimism for sustained performance in the upcoming quarters. The company’s commitment to deleveraging plans further reinforces its position in the market. Shares of Tata Motors settled marginally higher at ₹878.80 apiece on the BSE, encapsulating the positive sentiment surrounding the Q3 performance.