Tata Motors has exceeded expectations in its Q2FY24 performance, reporting a consolidated net profit of Rs 3,764 crore, a significant turnaround from the Rs 944 crore net loss in the same period last fiscal year. This positive outcome is attributed to higher sales of Jaguar Land Rover (JLR), resulting in increased revenue and margins for the Indian automaker. JLR’s revenue in Q2FY24 rose 30% YoY to £6.9 billion, with an EBITDA margin of 14.9%. Tata Motors is confident about sustaining this momentum due to a strong product pipeline, a seasonally stronger second half, and a continued focus on cash accretive growth. Additionally, Tata Motors and JLR have entered into an agreement to license JLR’s Electrified Modular Architecture (EMA) platform for the development of Tata’s ‘Avinya’ series of premium electric vehicles.
Tata Motors Reports Impressive Q2 Profit, Boosted by Jaguar Land Rover Sales
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