Tata Motors reports ₹867 crore loss in Q2FY26, revenue up 6%

Tata Motors attributed the loss to mark-to-market losses of about ₹2,000 crore arising from its recently listed investments in Tata Capital

Newly-listed Tata Motors (TMCV), the commercial vehicle arm of the automaker, on Thursday reported a consolidated net loss of ₹867 crore for the second quarter of the financial year 2025-26 (Q2FY26), reversing from a profit of ₹498 crore in the same period last year. Sequentially, too, the automaker swung to a loss from the ₹1,397 crore profit it reported in Q1FY26.

 

The company attributed the loss to mark-to-market losses of about ₹2,000 crore arising from its recent investments in Tata Capital.

 

However, its revenue from operations rose 6 per cent year-on-year (Y-o-Y) to ₹18,491 crore during the quarter from ₹17,402 crore in Q2FY25. Sequentially, revenue was up 8 per cent from ₹17,192 crore reported in the first quarter of FY26.

 

The company was listed on Indian bourses on Wednesday (Nov. 12, 2025) following its demerger from Tata Motors Passenger Vehicles Ltd (TMPV), the passenger vehicles arm of the group. In a virtual press conference, Tata Motors' managing director and chief executive officer Girish Wagh said the demerger is expected to unlock value, creating opportunities for the commercial vehicle segment, according to a PTI report. He noted that the domestic commercial vehicle industry is expected to grow in high single digits in the current fiscal.

 

Tata Motors Q2 sales

• Commercial vehicle (CV) wholesales stood at 96,800 units, a 12 per cent Y-o-Y increase
• Domestic volumes grew 9 per cent
• Exports rose sharply by 75 per cent

 

"After a subdued start, the rollout of goods and services tax (GST) 2.0 and the onset of the festive season catalysed a surge in demand across segments. We recorded a 12 per cent Y-o-Y volume growth, led by enhanced product availability, a refined pricing strategy, and intensified market activations. Looking ahead to H2 FY26, we anticipate continued momentum from key demand drivers—construction, infrastructure, and mining," Wagh said.

 

Tata Motors Q2 highlights

 

Revenue: ₹18,491 crore

Loss: ₹867 crore

Loss per share: ₹2.35 (basic and diluted)