Tata Motors Q3 profit drops 22% to Rs 5,451 crore as CV margins expand
Consolidated PAT fell 22% YoY to Rs 5,451 crore, missing estimates, while revenue rose 3% to Rs 1.13 lakh crore. Commercial vehicle EBITDA margin improved 130 bps to 12.4% on lower commodity costs and PLI incentives, even as CV revenue slipped 8.4% to Rs 18,400 crore.
Tata Motors Q3 consolidated profit fell 22% YoY to Rs 5,451 crore, missing estimates, while revenue rose 3% to Rs 1.13 lakh crore. CV margins improved on lower commodity costs and PLI incentives; JLR impairment noted in prior periods.
Why this matters
The margin gains align with Tata Motors' premium pivot away from sub-Rs 10 lakh cars and its CV ambitions to hit 1 million annual sales after the Iveco deal closes by Q2 FY26.
retail-company signals accelerating sharply, up 415300% QoQ.