Source The economics Times
MUMBAI — Tata Motors Passenger Vehicles (TMPV) reported a significant consolidated net loss of ₹3,486 crore for the third quarter ended December 31, 2025, a sharp reversal from the ₹5,406 crore profit recorded in the same period last year. The automotive giant’s bottom line was hammered by a lingering cyber incident at its luxury arm, Jaguar Land Rover (JLR), and cooling demand in the Chinese market.
Key Financial Highlights (Q3 FY26)
The company’s consolidated revenue from operations plummeted by 25.8% year-on-year, falling to ₹70,108 crore compared to ₹94,472 crore in Q3 FY25.
Metric Q3 FY26 Q3 FY25 Change (YoY)
Consolidated Revenue ₹70,108 Cr ₹94,472 Cr ↓ 25.8%
Net Profit/Loss (₹3,486 Cr) ₹5,406 Cr ↓ 164%
EBITDA Margin 2.2% 13.4% ↓ 1,120 bps
Exceptional Items ₹1,600 Cr —
The “Cyber Hit” and Exceptional Costs
The primary drag on the group’s performance was the cyber incident at JLR, which disrupted global production and distribution for several weeks. Production only returned to normal levels by mid-November, leading to a 43% slump in JLR volumes (excluding China JV).
Furthermore, the company recognized ₹1,600 crore in exceptional charges, which included:
₹800 crore: Direct costs and supplier claims related to the JLR cyberattack.
₹400 crore: Provisions for the implementation of the New Labour Code.
₹400 crore: Stamp duty charges.
Domestic Resilience Amid Global Turmoil
While the international business struggled, Tata Motors’ domestic passenger vehicle segment showed remarkable strength. Driven by GST 2.0 tailwinds and a robust festive season, the domestic business reported:
Revenue Growth: ₹15,317 crore, up 24% YoY.
Record Wholesales: 171,000 units, the highest-ever for a single quarter.
Retail Milestone: Domestic retail sales crossed the 200,000 mark for the first time.
“Overall, it was a challenging quarter as anticipated on account of the carryover impact of the cyber incident at JLR,” said Dhiman Gupta, CFO of Tata Motors PV. “However, the domestic business delivered robust revenue and margin improvement. We expect performance to significantly improve in Q4.”
Future Outlook
Despite the quarterly setback, management remains optimistic about a strong recovery in the final quarter of the fiscal year. JLR has resumed full production, and the company plans to counter soft demand in China with “brand-led actions.” In India, the company continues to bet on its EV dominance, maintaining a market share of nearly 66% in the electric passenger vehicle segment.
