Shares of Tata Motors Ltd plunged 5% on 2 August despite the company announcing strong growth during April-June. 

The company reported a 74% year-on-year increase in consolidated net profit to Rs 5,566 crore from Rs 3,203 crore reported in the same quarter last year. 

The revenue from operations during the quarter stood at Rs 1,07,316 crore, marking a 5.7% YoY increase from Rs 1,01,528 crore recorded during the same quarter of the previous fiscal year. 

On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 19% YoY to Rs 15,785 crore, whereas the EBITDA margins expanded by 170 basis points to 14.6% during Q1FY25. 

The company’s luxury arm, Jaguar Land Rover (JLR), recorded a 5.4% YoY increase in revenue to GBP 7.3 billion, driven by favourable volume, mix, and material cost improvement. 

The commercial vehicles revenue grew by 5.1% YoY to Rs 17,800 crore, while the passenger vehicle revenue slumped by 7.7% YoY due to challenging market conditions. 

At 12:27 pm, the shares of Tata Motors were trading 3.67% lower at Rs 1,102.40 on NSE. 

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