Tata Motors CV Q2 Results: Rs 867-Crore Net Loss Logged In First Earnings After Demerger, Revenue Up 6%

Tata Motors Ltd. reported a loss for the second quarter of the fiscal year 2026, according to an exchange filing on Thursday. This was the first earnings the company posted following the demerger of its passenger vehicle and commercial vehicle businesses.

The net loss in the July-September period stood at Rs 867, whereas the company had posted a profit of Rs 498 crore in the year-ago period.

The earnings before interest, taxes, depreciation and amortisation came in at Rs 22 crore, down 98.7% year-on-year, and margin contracted to 0.1% compared to 9.8% in the year-ago period.

The revenue, however, has risen 6% for the quarter at Rs 18,585 crore compared to Rs 17,535 crore in the previous year.

Notably, Tata Motors Commercial Vehicles listed on the National Stock Exchange on Nov. 12 at Rs 335 apiece, a premium of 28% over its pre-open price discovery closing price of Rs 260 apiece. On the BSE, the stock debuted at Rs 330.25.

The demerger took effect on October 1, 2025, splitting Tata Motors into two separately listed entities — Tata Motors Ltd. and Tata Motors Passenger Vehicles.

• Revenue up 6% at Rs 18,585 crore versus Rs 17,535 crore.

• Ebitda down 98.7% to Rs 22 crore versus Rs 1,719 crore.

• Margin to 0.1% versus 9.8%.

• Net loss of Rs 867 crore versus a profit of Rs 498 crore.

Tata Motors Commercial Vehicles includes the trucks, buses, logistics and goods transport business, while Tata Motors Passenger Vehicles includes passenger cars, electric vehicles, and Jaguar Land Rover.

The CV company started to operate as a pure commercial and industrial mobility player. Under the approved Composite Scheme of Arrangement, every Tata Motors shareholder received one equity share of Rs 2 each of TMLCV for every one equity share of Rs 2 each held in Tata Motors as of the record date.