Tata Motors Passenger Vehicles (PV) shares slipped more than 2% in early trade after the company reported a weak set of Q2 results. The stock reacted negatively as the PV segment showed a sharp drop in revenue and a complete reversal in profitability.
As per the consolidated numbers, Tata Motors PV reported Q2 revenue of ₹72,349 crore, down 13.5% from ₹83,656 crore last year. The company also posted an EBITDA loss of ₹1,043 crore, compared to an EBITDA profit of ₹9,478 crore in the same quarter a year ago. The sudden move from profit to loss highlights margin pressure and softer demand.
On the bottom-line front, the numbers looked mixed. The company posted a net profit of ₹76,170 crore, up sharply from ₹3,446 crore last year, but most of this came because of an exceptional gain of ₹2,608 crore. If that is excluded, the core performance showed stress, with Tata Motors reporting a net loss of ₹6,368 crore from continuing operations versus a profit of ₹3,056 crore in the previous year.
A major boost came from discontinued operations, where the company recorded a profit of ₹82,616 crore, far higher than ₹465 crore last year. This one-time gain inflated the overall consolidated profit but doesn’t reflect the actual condition of the ongoing PV business.
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