Tata Motors Ltd. (TML) announced its results for quarter ending September 30, 2023. TML maintained its strong performance in Q2 FY24, achieving revenues of 105.1K Cr, a 32.1% increase. TML’s Q2 FY24 EBITDA increased by 86.4% to 14.4K Cr, and EBIT increased by 7.8KCr, reflecting profitable growth in all auto verticals.
PBT (bei) saw a significant increase of 7.9KCr to 6.1KCr, with a net profit of 3.8KCr. The business reported a strong PBT (bei) of 11.4KCr in H1 FY24, an improvement of 18.2KCr compared to the previous year. Net Automotive debt reduced to 38.7KCr.
JLR revenue increased by 30.4% to £6.9b, with EBITDA at 14.9% and EBIT at 7.3%. Tata CV revenue rose 22.3% to 20.1K Cr, with EBITDA at 10.4% and EBIT at 7.9%. 3. PV revenues were marginally down 3.0% impacted by the transition to the new launches while EBIT margins improved by 140 bps to 1.8% due to savings in commodity costs. PB Balaji, Group Chief Financial Officer, Tata Motors said: “With a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth, we are confident of sustaining this momentum.”
