Tata Motors CV Q2 profit at Rs 1,254 crore, revenue up 36%

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 31% year-on-year to around Rs 2,800 crore, against estimates of Rs 2,665 crore. The EBITDA margin declined 40 basis points to 10.9%. The company attributed the improvement in consolidated profit to a lower mark-to-market loss on its investments in Tata Capital. Tata Motors sold 135,114 commercial vehicles across domestic and international markets during the September quarter, up around 42% year-on-year.

Domestic volumes grew 30%, while exports surged 177%. “Q2 FY27 marked another strong quarter, with wholesale volumes growing 42% and H1FY27 volumes rising 35%. We remain well positioned for a robust FY27, even as growth moderates in the second half. Infrastructure activity and stable fleet utilisation support freight demand, while commodity costs remain a headwind. We will focus on operational excellence, cost management and enhancing our customer value proposition,” said Girish Wagh, MD and CEO of Tata Motors.

The company’s domestic CV market share rose 110 basis points from FY26 to 36.2% in the first half of FY27. Its share stood at 55.7% in heavy commercial vehicles, 36.3% in intermediate and light medium commercial vehicles, 27.6% in small commercial vehicles and pick-ups, and 41.1% in CV passenger vehicles. “Q2 FY27 delivered strong performance, with revenue up 42% and EBITDA rising 31%. Free cash flow of ₹4,600 crore strengthened our balance sheet, taking net cash to ₹11,300 crore.

Despite commodity cost pressures, we maintained margins through cost management, operational efficiencies and calibrated pricing.” said GV Ramanan, chief financial officer of Tata Motors. Separately, Tata Motors said its all-cash tender offer for Italian commercial vehicle maker Iveco Group had commenced after receiving regulatory approvals. The offer remains open until October 26, with settlement scheduled for October 30, subject to successful completion.

Iveco shareholders approved all proposed resolutions on October 16. Tata Motors shares closed at Rs 395.70 on the BSE, down 4.43%, or Rs 18.35, ahead of the earnings announcement.