Tata Motors, which now houses the company’s commercial vehicle business, on Thursday reported a consolidated net loss of Rs 867 crore in the September quarter, impacted by mark-to-market losses of Rs 2,026 crore on account of investment in Tata Capital.
Photograph: Anushree Fadnavis/Reuters
The newly listed firm reported a net profit of Rs 498 crore during the July-September quarter of the last fiscal.
Total revenue from operations stood at Rs 18,585 crore compared to Rs 17,535 crore in the year-ago period, the newly listed firm said in a regulatory filing.
Profit before tax rose to Rs 1,694 crore in the second quarter as against Rs 1,225 crore in the year-ago period, it added.
The company said the proposed acquisition of IVECO, announced on July 30, 2025, is progressing as planned, with regulatory approvals underway and acquisition is expected to be completed in April next year.
The company’s topline is expected to rise to $24-25 billion with the completion of the acquisition.
“Our financial results underscore a resilient performance, driven by a sound and agile business strategy.
“After a subdued start, the rollout of GST 2.0 and the onset of the festive season catalysed a surge in demand across segments,” Tata Motors managing director & CEO Girish Wagh said.
The company recorded a 12 per cent year-on-year volume growth, led by enhanced product availability, a refined pricing strategy, and intensified market activations, he added.
Looking ahead, with the festive season underway, improving consumption, and the full impact of GST reforms yet to unfold, the company said it anticipates a strong second half for FY26.
Construction, infrastructure, and mining activities will gain momentum, further fueling demand for trucks and tippers, it added.
Tata Motors successfully completed the demerger of its commercial vehicle businesses, making the scheme effective October 1, 2025.
The commercial vehicles business has been renamed as Tata Motors Ltd and is listed on BSE and NSE on November 12, 2025.
In a virtual press conference, Wagh said the demerger is expected to unlock value, creating opportunities for the commercial vehicle segment.
He noted that the domestic commercial vehicle industry is expected to grow in high single digits in the current fiscal.
On a question related to CAFE norms, Wagh said the commercial vehicle industry has been able to arrive at a consensus across all the segments.
“… instead of going for constant speed fuel consumption norms and reduction as per that criteria, go for Bharat Vecto tool, which is the vehicle energy consumption tool, which is a real-life representation of what kind of fuel is getting consumed or what CO2 is getting emitted,” he added.
This proposal has been given to government agencies, and the company expects that it will be looked upon favourably, Wagh said.
