Profit before tax (PBT) stood at Rs 7,674 crore during the December 2024 quarter, down 0.17% from Rs 7,687 crore posted in the same quarter last year.

EBITDA stood at Rs 15,521 crore in third quarter of FY25, registering de-growth of 1.9% YoY. EBITDA margin reduced to 13.7% in Q3 FY25 as compared with Rs 14.3% in Q3 FY24.

In its outlook, the company expects underlying domestic demand to improve gradually on account of infrastructure spends, a slew of exciting product launches, and stable interest rates. While JLR wholesales are expected to improve further in Q4 FY25, we remain watchful on the overall demand situation, particularly in China.

PB Balaji, group chief financial officer, Tata Motors, said, 'In Q3, the performance of all businesses improved sequentially. For YTD FY25, our business grew 1.6% over the previous year to Rs 323K crore and delivered a robust PBT of Rs 22.3K crore (+14.5%). The fundamentals of the business are strong and therefore, despite external challenges, we are confident of delivering another strong performance this year.'

JLR reported a net profit of 375 million pounds in Q3 FY25, down 36.66% as compared with 592 million pounds in Q3 FY24. The company's revenue rose 1.51% to 7,486 million pound in Q3 FY25 as compared with 7,375 million pound. EBIT margin was at 9% (up 20 bps) in Q3 FY25.

JLR stated that it delivered a robust third quarter in FY25, with record Q3 revenue, the highest EBIT margin in a decade and a ninth successive profitable quarter. The increase in profitability YoY reflects higher volumes, an improved mix and a reduction in depreciation and amortisation (D&A) driven by Castle Bromwich production cessation and ICE end of life extensions, partially offset by an increase in VME, warranty costs and unfavourable FX revaluation.

On outlook front, the company said that while mindful of the challenging economic backdrop, the company is on track to achieve its profitability and cash flow targets in FY25, with an EBIT margin of ≥8.5% and positive net cash.

Adrian Mardell, JLR, chief executive officer, said, '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. We revealed the beautiful, reimagined Jaguar design vision - Type 00 - in Miami, and later this year, we will launch Range Rover Electric .'

Tata Commercial Vehicles recorded profit before tax of Rs 1,726 crore in Q3 FY25, up 4.23% as compared with Rs 1,656 crore posted in same quarter last year. Revenue from operations declined 8.41% YoY to Rs 18,431 crore in Q3 FY25. In Q3 FY25, domestic wholesale CV volumes were 91.1K units, marginally lower as compared to 91.9K units in Q3 FY24, but marking significant improvement as compared to 79.8K units recorded in Q2 FY25.

Looking ahead, the company anticipates demand to improve in Q4 FY25 across most segments. The key aspects to watch out in 2025 will be government's focus on infrastructure spend, and growth in end use segments, which will augur well for the commercial vehicles industry. We continue to drive actions to reduce the impact of cyclicality in our results and deliver strong margins and ROCE.

Girish Wagh, executive director, Tata Motors, said, 'In Q3 FY25, HCV segment witnessed robust sequential recovery, even as the YoY sales declined 9% due to limited growth in end-use segments. The ILMCV segment and passenger carrier segment witnessed 3% and 30% YoY growth, whereas the SCV segment experienced marginal decline due to ongoing financing challenges. The business has delivered strong EBITDA and EBIT margin of 12.4% and 9.6%, respectively, with cost control and reflecting PLI incentive.

At the Bharat Mobility Expo, we unveiled a bold new era in mobility, showcasing 14 smart vehicles, all integrated with ADAS, alongside 6 cutting-edge intelligent solutions that provide real-time performance insights, and 4 advanced aggregates.'.

Revenue from Tata Passenger Vehicles shed 4.31% to Rs 12,354 crore during the December 2024 quarter. Profit before tax (PBT) fell 28.43% YoY to Rs 292 crore in Q3 FY25. PV volumes were at 140K units (+1.1%YoY) during the quarter.

On outlook front, TaMo said, 'In line with the growth rates seen in the first nine months, the PV industry is poised for moderate growth in FY25. Segment shifts in the industry are likely to continue with strong growth in the SUV segment, and continued traction for emission-friendly powertrains. With multiple product launches, innovations and a strengthened multi-powertrain strategy, Tata Motors is well poised for further growth in CY25.'

Shailesh Chandra, managing director, TMPV and TPEM, said, 'In Q3 FY25, we recorded wholesales of 140K units (1.1% growth over Q3 FY24) and retail sales growth of 6% over Q3FY24. This has allowed us to sharply reduce our channel inventory ahead of Q4 FY25. In the EV segment we registered 19% growth in the domestic personal segment, although our fleet volumes declined YoY due to the expiry of FAME II subsidy. Our new product launches including Curvv, Curvv.ev, Nexon CNG and Nexon.ev 45 continue to see strong customer traction.

Overall, in Q3 FY25, the business delivered resilient performance, with volumes and profitability improving sequentially. At the Bharat Mobility Global Expo 2025, we unveiled our 'Future of Mobility' portfolio blending innovative design and smart engineering with a profound understanding of customer needs. Looking ahead, we remain agile and optimistic as we continue to leverage the demand for our new products, expand our network, and focus on micro-markets to increase our volumes and market share.'

Finance costs reduced by Rs 760 crore to Rs 1,725 crore in Q3 FY25, due to reduction in gross debt during the period.

In Q3 FY25, net loss from joint ventures and associates amounted to Rs 30 crore, compared to profit of Rs 193 crore in Q3 FY24. Other income (excluding grants) was Rs 727 crore in Q3 FY25 as against Rs 752 crore in Q3 FY24.

Free cash flow (automotive) for the quarter was at Rs 4.7K crore, driven by improvement in volumes. Net automotive debt was at Rs 19.2K crore.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses

The counter advanced 3.29% to settle at Rs 752.45 on the BSE.

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