May 28, 2024

Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country’s second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24).

While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.

The commercial vehicle (CV) segment, representing 60 per cent of Indian auto business revenues, witnessed a mere 1.6 per cent growth, hampered by a 6 per cent decline in volumes. This decline was attributed to the high base in the year-ago quarter, driven by pre-buying

First Published: May 12 2024 | 9:52 PM IST