JLR Cyber Attack Hits Tata Motors PV Q3: ₹3,486 Crore Loss, FY26 Guidance Maintained

• Tata Motors Passenger Vehicles Ltd. (TMPVL) reported a net loss of ₹3,486 crore in Q3 FY24, a significant drop from ₹5,485 crore profit last year.
• The loss was primarily due to multiple one-offs, including a cyber incident affecting JLR, planned wind-down of legacy Jaguar models, and deteriorating market conditions in China.
• Revenue increased by 25% to ₹15,268 crore, but fell short of CNBC-TV18 poll estimates.
• EBITDA rose 7% to ₹689 crore, also below estimates, with margins narrowing to 4.5%.
• Despite challenges, the company maintains its FY26 EBIT margin guidance of 0-2% and expects significant improvement in Q4 with new launches and robust domestic demand.