Tata Motors’ commercial-vehicle (CV) arm swung into a net loss of ₹867 crore in the second quarter of fiscal year 2025-26, moving from a profit of ₹498 crore in the same quarter last year. Meanwhile, its revenue from operations rose about 6 % to roughly ₹18,491 crore, up from around ₹17,402 crore in Q2 FY25. The company pointed to a significant one-time mark-to-market loss of about ₹2,000 crore related to investments in Tata Capital as the main reason for the loss. On the operational front, volumes improved: domestic CV sales grew 9 % year-on-year, exports surged 75 %, and total wholesale volumes rose about 12 %.
Despite the headline loss, underlying margin trends showed improvement — with EBITDA margin up and EBIT margin rising aided by higher volumes and better realisations.Looking ahead, the company is optimistic. It expects demand in sectors like construction, infrastructure and mining to strengthen in H2, and is focused on achieving stronger profitability and cash flows.
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