Tata Motors Ltd. (TML) has released its results for the quarter ending December 31, 2023. Tata Motors Consolidated, TML delivered a strong performance in Q3 FY24 performance,with Revenue of 110.6K Cr (up 25.0%), EBITDA at 15.8K Cr (up 60.6%) and EBIT of 9.2KCr (+5.3KCr). All automotive verticals continued profitable growth.
PBT (bei) improved by 4.4KCr to 7.6KCr, and net profit was 7.1KCr. JLR revenue increased 22% to £7.4b, driven by improved wholesales and reduced material costs, resulting in EBIT margins of 8.8%. CV revenue increased 19.2%, CV revenue increased by 19.2%, and PV revenues increased by 10.6%.
In Q3 FY24, Tata Motors’ commercial vehicles saw domestic wholesale CV volumes increase by 1.1% YoY, while exports increased by 14% YoY. Revenues rose by 19.2% YoY to 20.1K Cr, driven by better market pricing for medium and heavy commercial vehicles. The quarter also saw strong EBITDA and EBIT margins of 11.1% and 8.6% YoY, respectively; leading to a strong PBT of 1.7K Cr. JLR experienced a strong Q3 FY24 performance, with a 22% increase in revenue and an 8% increase in Q2 FY24. PB Balaji, Group Chief Financial Officer, Tata Motors said, “We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans.”
