Tata Motors Sees 9.9% Profit Dip in Q2

Tata Motors announced a 9.9% decline in consolidated net profit to Rs 3,450 crore for the second quarter of 2024. This is a decrease from Rs 3,832 crore in the same quarter the previous fiscal. Revenue from operations also fell slightly compared to last year.

Tata Motors unveiled a concerning financial update on Friday, revealing a 9.9% drop in its consolidated net profit, bringing it down to Rs 3,450 crore for the second quarter ending in September 2024.

In the previous fiscal's same quarter, the company had reported a consolidated net profit of Rs 3,832 crore, according to a regulatory filing by Tata Motors. This indicates a notable decrease in earnings compared to last year.

The revenue generated from operations totaled Rs 1,00,534 crore, a slight decrease from Rs 1,04,444 crore during the same period last year. Additionally, total expenses were recorded at Rs 97,330 crore, down from Rs 1,00,649 crore in the last fiscal's comparable quarter.

(With inputs from agencies.)