Tata Motors Passenger Vehicles posts net loss of ₹3,483 crore in Q3

Tata Motors Passenger Vehicles on Thursday (February 5, 2026) reported a consolidated net loss of ₹3,483 crore for the third quarter ended December 2025, impacted significantly by the cyber incident at its British arm Jaguar Land Rover.

The company had posted a consolidated net profit of Rs 5,485 crore in the corresponding quarter of the last fiscal, Tata Motors Passenger Vehicles Ltd (TMPVL) said in a regulatory filing.

Its consolidated total revenue from operations in the third quarter stood at ₹70,108 crore compared to ₹94,472 crore in the year-ago period, it added.

Total expenses in the quarter under review were ₹74,880 crore against ₹89,698 crore in the year-ago period, the company said.

The company said it incurred exceptional items of ₹1,600 crore for Q3 FY26 pertaining to the JLR cyber incident, new labour code and stamp duty of ₹800 crore, ₹400 crore and ₹400 crore, respectively.

JLR’s loss after tax in the quarter was 298 million pounds.

The performance continued to be impacted significantly by the cyber incident at JLR, as indicated earlier. The domestic performance improved quarter-on-quarter (QoQ) on account of higher volumes and incentives, TMPVL said.

“Overall, it was a challenging quarter as anticipated on account of the carryover impact of the cyber incident at JLR, while domestic business delivered robust revenue and margin improvement QoQ,” TMPVL Chief Financial Officer, Dhiman Gupta said.

“We expect performance to significantly improve in Q4 with recovery at JLR and continuing growth in domestic market share.” JLR’s revenue for the third quarter was 4.5 billion pounds, down 39% versus Q3 FY25, the company said.

This was largely driven by reduction in wholesale volumes, which were impacted, following the cyber incident, with production only returning to normal levels by mid-November and the time being required thereafter to distribute vehicles globally, it added.

JLR volumes and profitability were also impacted year-on-year by the continued planned wind down of legacy Jaguar models ahead of the new Jaguar launch, and deterioration of market conditions in China, it said.

Profitability was also impacted by the cyber incident, ongoing incremental U.S. tariffs and increased variable marketing expenditure.

JLR CEO PB Balaji said, “Q3 was a challenging quarter for JLR with performance impacted by the production shutdown we initiated in response to the cyber incident, the planned wind down of legacy Jaguar, and U.S. tariffs”.

The company returned vehicle production to normal levels by mid-November, he said.

“While the external environment remains volatile, we expect performance to improve significantly in the fourth quarter and we have clear plans to manage global challenges,” Mr. Balaji said.

On the outlook for 2026, he said it is “set to be an exciting year for JLR as we develop our next generation vehicles, including the launch of Range Rover Electric and the unveiling of the first new Jaguar”.

JLR said it remains resilient and well placed to address the economic, geopolitical and policy challenges the industry faces. Investment spend is expected to remain at 18 billion pounds over the five-year period from FY24.

Tata passenger vehicles revenue in Q3 FY26 were up 24% at ₹15,300 crore, the company said.

Total Tata PV and EV volumes during the quarter were at 1.71 lakh units, up 22%, driven by the impact of the reduction in GST rates and robust performance of products, the company said.

“In Q3 FY26, we recorded our highest-ever quarterly wholesales at 1.71 lakh units, while retail sales crossed the 2 lakh mark for the first time, driven by strong demand tailwinds from GST 2.0 and a robust festive season,” TMPVL Managing Director and CEO Shailesh Chandra said.

Going forward, he said, “we expect to accelerate growth with a strong product pipeline, healthy inventory levels, and sustained demand across segments, while strengthening our margin trajectory.”

Published – February 05, 2026 10:21 pm IST