Tata Motors’ Passenger Vehicle (PV) reported a significant loss for the October–December quarter (Q3) of financial year 2025-26 (FY26), mainly due to ongoing problems at its Jaguar Land Rover (JLR) unit. The company posted a consolidated net loss of ₹3,483 crore for the quarter under review, a sharp reversal from a profit of around ₹5,485 crore in the same quarter last year.
Revenue also took a hit, falling about 26% year-on-year (YoY) to ₹70,108 crore. The drop was largely because JLR's production was disrupted for several weeks after the cyberattack in August last year. Production only returned to normal by mid-November, and the time needed to ship vehicles worldwide further slowed volumes.
1 January 2026
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Last month, the company reported that JLR’s wholesales dropped steeply. the wholesale volumes fell 43.3% YoY to 59,200 units in the quarter under review. The volumes were also lower than the previous quarter, falling 10.6%. The decline was seen across all major markets, including North America, Europe, China, Middle East, North Africa and the UK.
JLR's revenue for the quarter was £4.5 billion, down 39% as compared to the corresponding period last year.
Apart from the cyberattack, other factors affected performance, including the planned phase-out of older Jaguar models ahead of new launches, weaker market demand in China, and rising US tariffs on exports from JLR. These issues weighed on both sales and margins at the luxury car unit, which contributes a large part of the company's overall business.
Despite the tough quarter globally, Tata's domestic business showed resilience. Passenger and electric vehicle sales in India grew strongly, up about 22% YoY to 171,000 units, helped by lower GST rates and strong demand for new models.
"Overall, it was a challenging quarter as anticipated on account of carryover impact of Cyber Incident at JLR, while domestic business delivered robust revenue and margin improvement QoQ. We expect performance to significantly improve in Q4 with recovery at JLR and continuing growth in domestic market share," CFO Dhiman Gupta said.
