Tata Motors Passenger Vehicles Ltd. Q3 FY2026 results: revenue ₹70,108 crore, down 38.3% on the year
Tata Motors Passenger Vehicles Ltd. (TMPV) reported consolidated revenue from operations of ₹70,108 crore for Q3 FY2026, the quarter ended 31 December 2025, down 38.3% on the same quarter a year earlier. Profit after tax was ₹-3,483 crore, and earnings per share ₹-9.47. The figures are the company's own, from the un-audited results it filed with NSE on 5 February 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 70,108 | 72,349 | 1,13,575 | -38.3% |
| Other income | 1,467 | 1,461 | 1,790 | -18.0% |
| Total income | 71,575 | 73,810 | 1,15,365 | -38.0% |
| Cost of materials consumed | 49,826 | 36,300 | 60,798 | -18.0% |
| Purchases of stock-in-trade | 4,389 | 3,678 | 6,355 | -30.9% |
| Changes in inventories | -10,392 | 7,968 | 2,269 | n/a |
| Employee benefit expense | 11,381 | 10,831 | 12,011 | -5.2% |
| Finance costs | 682 | 686 | 1,725 | -60.5% |
| Depreciation, depletion and amortisation | 4,969 | 4,871 | 5,408 | -8.1% |
| Other expenses | 18,564 | 18,672 | 19,061 | -2.6% |
| Total expenses | 74,880 | 79,310 | 1,07,627 | -30.4% |
| Profit before exceptional items and tax | -3,305 | -5,500 | 7,738 | n/a |
| Exceptional items | -1,597 | -2,608 | -26 | n/a |
| Profit before tax | -4,902 | -8,108 | 7,712 | n/a |
| Current tax | 548 | 1,065 | 1,161 | -52.8% |
| Deferred tax | -1,798 | -2,767 | 935 | n/a |
| Total tax | -1,250 | -1,702 | 2,096 | n/a |
| Profit after tax | -3,483 | 76,248 | 5,578 | n/a |
| Attributable to owners of the parent | -3,486 | 76,170 | 5,451 | n/a |
| Other comprehensive income | 408 | -2,016 | -10,503 | n/a |
| Total comprehensive income | -3,075 | 74,232 | -4,925 | n/a |
| EPS, basic | -₹9.47 | -₹17.50 | ₹14.81 | n/a |
| EPS, diluted | -₹9.47 | -₹17.50 | ₹14.80 | n/a |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 0.61 | 0.53 | 0.01 | |
| Debt service coverage | 0.78 | -0.11 | 0.01 | |
| Interest service coverage | -1.57 | -3.47 | 0.05 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Automotive and related activity | 0 | n/a | 0 | n/a |
| - Tata and other brands vehicles | 0 | n/a | 0 | n/a |
| (a) Passenger Vehicle | 15,317 | 21.7% | 219 | 1.4% |
| (b) Corporate/Unallocable | 13 | 0.0% | -20 | -153.8% |
| - Jaguar and Land Rover | 53,849 | 76.3% | -3,344 | -6.2% |
| Less: Intra segment eliminations | 0 | n/a | -3 | n/a |
| Others | 1,366 | 1.9% | 158 | 11.6% |
| Less: Inter segment eliminations | 0 | n/a | -43 | n/a |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,05,128 | 1,10,577 | 1,19,986 | 1,08,048 | 1,01,450 | 1,13,575 | 1,19,503 | 1,04,407 | 72,349 | 70,108 | 1,05,447 | 95,799 |
| Expenses | 1,00,649 | 1,04,494 | 1,12,235 | 1,00,925 | 97,330 | 1,07,627 | 1,09,056 | 1,00,441 | 79,310 | 74,880 | 1,00,047 | 95,338 |
| Operating profit | 13,767 | 15,418 | 17,135 | 15,785 | 12,159 | 13,081 | 16,818 | 10,224 | -1,404 | 879 | 11,259 | 6,176 |
| OPM % | 13% | 14% | 14% | 15% | 12% | 12% | 14% | 10% | -2% | 1% | 11% | 6% |
| Other income | 1,631 | 1,499 | 1,460 | 1,575 | 1,566 | 1,790 | 1,509 | 1,519 | 1,461 | 1,467 | 1,633 | 1,129 |
| Interest | 2,652 | 2,485 | 2,234 | 2,088 | 2,034 | 1,725 | 1,076 | 938 | 686 | 682 | 767 | 835 |
| Depreciation | 6,636 | 6,850 | 7,151 | 6,574 | 6,005 | 5,408 | 5,295 | 5,320 | 4,871 | 4,969 | 5,092 | 4,880 |
| Exceptional items | -124 | -88 | -88 | 43 | -1 | -26 | -566 | -56 | -2,608 | -1,597 | 110 | -32 |
| Profit before tax | 5,986 | 7,494 | 9,123 | 8,741 | 5,685 | 7,712 | 11,390 | 5,429 | -8,108 | -4,902 | 7,143 | 1,558 |
| Tax % | 37% | 7% | -89% | 36% | 41% | 27% | 26% | 29% | n/a | n/a | 20% | 46% |
| Net profit | 3,832 | 7,145 | 17,529 | 5,692 | 3,450 | 5,578 | 8,556 | 4,003 | 76,248 | -3,483 | 5,878 | 859 |
| EPS in ₹ | ₹9.81 | ₹18.32 | ₹45.42 | ₹14.51 | ₹9.72 | ₹14.81 | ₹23.40 | ₹10.66 | -₹17.50 | -₹9.47 | ₹15.71 | ₹2.10 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 5 February 2026: the result statement. All of Tata Motors Passenger Vehicles Ltd.'s results: NSE company page.
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