Tata Motors reported a consolidated net loss of Rs 3,483 crore for the quarter ended December 31, 2025, as the lingering impact of a cyber attack incident at its luxury arm Jaguar Land Rover continued to weigh on performance.
Revenue from operations declined to Rs 70,108 crore in Q3 FY26, down 3.1% sequentially and 25.8% year-on-year. Total expenses stood at Rs 74,880 crore, resulting in a loss before tax (LBT) of Rs 4,733 crore from continuing operations, compared with a loss of Rs 8,070 crore in Q2 FY26 and a profit of Rs 6,106 crore in the year-ago quarter.
Exceptional items of Rs 1,597 crore, largely linked to the JLR cyber incident, labour code provisions and stamp duty charges, further weighed on earnings. Excluding exceptional items, loss before tax stood at Rs 3,136 crore. After tax expenses of Rs 1,250 crore, loss after tax from continuing operations narrowed sequentially to Rs 3,483 crore.
For the nine months ended December 31, 2025, consolidated revenue declined 13.9% year-on-year to Rs 2.30 lakh crore. Profit after tax for the period stood at Rs 76,767 crore, driven by an exceptional gain of Rs 84,022 crore from discontinued operations, including a disposal gain recognised in Q2 FY26.
JLR Recovery
Richard Molyneux, chief financial officer at Jaguar Land Rover, said the business continued to be impacted by the cyber attack; US tariff pressures and weaker demand in China. “Plants are now operating at normal production levels, and we expect a significant improvement in Q4,” he said, adding that Range Rover, Range Rover Sport and Defender production lines are running at full capacity. The cyber incident resulted in the loss of production of about 50,000 units, split between Q2 and Q3, with no impact expected in Q4.
Looking ahead, Molyneux said FY26 will be a pivotal year for JLR, with the unveiling of next-generation models, the Range Rover EV, a first all-new Jaguar car along with the first vehicle on the EMA platform. He added that JLR’s India business has recovered strongly following GST cuts and a refreshed portfolio, positioning the company to end the year on a stronger footing.
Domestic Resilience
Despite the drag from JLR, the domestic passenger vehicle business showed resilience. Shailesh Chandra, MD and CEO, Tata Motors said the PV business recorded a 46% market share in December 2025, according to Vahan data. He said Q3 and Q4 would reflect the impact of launches from earlier quarters, including the Sierra, Punch facelift, Harrier and Safari petrol, along with Xpress petrol and CNG variants based on the Tigor for fleet customers.
Chandra added that retail momentum remained strong, with retail volumes exceeding wholesales in Q3, supported by the Punch and Nexon. “We are seeing strong bookings and expect mid-teens growth in Q4, supported by Sierra ramp-up, the Punch facelift and petrol variants of the Harrier and Safari,” he said. He added that commodity costs have risen over 2%, with a price hike likely in the coming weeks. On exports, Chandra said the company remains focused on right-hand-drive markets, with further expansion contingent on clarity around the India–EU FTA.