PTI NEW delhi

Tata Motors on Wednesday reported a 22 per cent fall in consolidated net profit to Rs 5,578 crore for the third quarter ended December 2024, impacted by a decline in revenue from its passenger and commercial vehicles divisions.

The company had posted a consolidated net profit of Rs 7,145 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing. Its consolidated total revenue from operations stood at Rs 1,13,575 crore against Rs 1,10,577 crore in the year-ago period, it added.

The total expenses in the quarter were higher at Rs 1,07,627 crore compared to Rs 1,04,494 crore a year ago, the company said. Tata Motors said its British arm Jaguar Land Rover (JLR) delivered a robust third quarter in FY25, with record revenue of 7.5 billion pounds, up 1.5 per cent compared to the year-ago period and posted a ninth successive profitable quarter.

"JLR has delivered a robust performance in the third quarter of our financial year, and further milestones in our reimagine strategy. Thanks to our people and partners, we achieved record revenue and our best EBIT margin in a decade and our electrification plans are progressing," JLR Chief Executive Officer Adrian Mardell said. JLR said that while mindful of the challenging economic backdrop, it is on track to achieve its profitability and cash flow targets in FY25. 

Tata Passenger Vehicles Q3 revenue was Rs 12,400 crore, down 4.3 per cent and volumes were steady at 1.4 lakh units, about 1.1 per cent growth, Tata Motors said. On the road ahead for PVs, Tata Motors said in line with the growth rates seen in the first nine months, the PV industry is poised for moderate growth in FY25.