Kamal Ghorui
MUMBAI: Tata Motors Passenger Vehicles (TMPV) slipped into a loss in the third quarter, hit by a cyberattack at its UK luxury arm, Jaguar Land Rover (JLR), which disrupted operations and triggered a one-time charge of Rs 1,600 crore. The company reported a consolidated loss of Rs 3,483 crore during the October-December period, compared with a profit of Rs 5,485 crore a year earlier.JLR, which contributes nearly 80% of TMPV’s revenue, was forced to halt production for five weeks until early Oct following the cyberattack. The incident resulted in loss of $228.5 million in July-Sept and prompted the UK govt to step in with a loan guarantee of $2.04 billion to support the luxury carmaker’s supply chain.During Q3FY26, TMPV’s revenue declined nearly 26% to Rs 69,605 crore. JLR’s revenue fell about 34% to Rs 53,849 crore, while non-JLR revenue, including the India passenger vehicle business, rose 24% to Rs 15,317 crore. JLR’s earnings before interest and taxes (EBIT) margin deteriorated to negative 6.8%, compared with a positive 9% a year earlier.Management expects a significant improvement in JLR’s performance in Q4FY26, despite continued volatility in the external environment.
