Mumbai-headquartered automotive major Tata Motors has reported its financial results for Q2 FY2024. The company reported revenue of Rs 1.04 lakh crore as against Rs 78,846 crore a year ago, the net profit came at Rs 3,764 crore as against a loss of Rs 944.61 crore for the same period last year.
The company says all its auto verticals (PV, EV, CV and JLR) continued their profitable growth trajectory.
The company says it remains optimistic on demand despite external challenges and anticipate a moderate inflationary environment. It aim to deliver a stronger performance in H2, due to a healthy order book at JLR, strong demand for heavy trucks in CV and exciting new generation products in PV. The financial performance is expected to further improve owing to a richer mix, continued low-break-even in JLR, execution of demand-pull strategy in CV and improving profitability in PV/EV.
PB Balaji, Group CFO, Tata Motors said: “It is pleasing to see all the businesses deliver on their well differentiated plans this quarter. With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum.”
