Mumbai, India – Tata Motors Ltd (TMCV) on Friday reported a consolidated net profit of ₹1,257 crore for the second quarter (Q2 FY27), marking a significant rebound from a net loss of ₹867 crore in the corresponding period of the previous year. The strong performance was underpinned by robust revenue growth across segments.
Revenue from operations saw a substantial increase of 36.33% year-on-year (YoY), reaching ₹25,338 crore in Q2 FY27, up from ₹18,585 crore in the same quarter last year. Sequentially, revenue also climbed by 22.60%.
Quarterly Performance Highlights
Despite the strong year-on-year growth, the company's profit declined by 50.90% quarter-on-quarter (QoQ) from ₹2,560 crore in Q1 FY27. This sequential dip was primarily attributed to a lower mark-to-market loss on investments in Tata Capital Ltd.
Total wholesale volumes for Tata Motors reached 1,35,100 units in Q2 FY27. Both domestic and export markets contributed to this growth, with domestic volumes rising 30% YoY and export volumes experiencing a remarkable 177% YoY increase.
Girish Wagh, MD & CEO at Tata Motors, commented on the results, stating, "Q2 FY27 marked another strong quarter in our journey of consistent, profitable growth. Wholesale volumes grew 42 per cent, with broad-based growth across segments, reflecting healthy underlying demand and disciplined execution." He added that with H1 FY27 volumes up 35%, the company is well-positioned for a robust full financial year, though growth rates are expected to moderate in the second half.
Operational Outlook and Challenges
Wagh highlighted that core macroeconomic indicators, sustained infrastructure activity, and stable fleet utilisation continue to support freight demand. However, he noted that interest rates, diesel prices, and the broader economic environment remain key monitorables. "Commodity cost pressures persisted through the first half and remain a headwind," Wagh said, emphasizing the company's focus on operational excellence, rigorous cost management, and enhancing customer value.
As of September 30, 2026, Tata Motors maintained a healthy net cash position of ₹15,900 crore.
Iveco Transaction Update
Tata Motors also provided an update on the ongoing Iveco transaction. The company confirmed that, following the receipt of all necessary regulatory approvals, the tender offer has officially commenced. It will remain open for acceptance until October 26, 2026.
At Iveco's Extraordinary General Meeting (EGM) held on October 16, 2026, shareholders approved all proposed resolutions related to the deal. Subject to the successful completion of the tender offer, the settlement for the transaction is scheduled for October 30, 2026.
Following the announcement of these quarterly earnings after market hours on Friday, Tata Motors shares settled 4.43% lower at ₹395.70.