Tata Motors Q2 FY23 revenue up by 30% to Rs 79,611cr
Tata Motors has reported revenue of INR 79,611 crores for the quarter ending 30 September 2022 (Q2 FY23), an increase of 29.7% compared to the same period of the previous year.
Jaguar Land Rover earned revenue of INR 5,260 crores in Q2 FY23, a year-over-year (YoY) increase of 35.9%. The revenue increase reflected a robust model mix and pricing with wholesale volumes, said Tata Motors after the exclusion of its China joint venture.
Tata Commercial Vehicles reported revenue of INR 16,420 crores in the reported quarter, which is a YoY increase of 35.5%, while Tata Passenger Vehicles had a 71% YoY increase with a revenue of INR 12,547 crores.
Tata Motors said that Tata Commercial Vehicles saw a 15% increase in sales over Q2 FY22. The domestic wholesales in India were at 93,651 vehicles, a 19% YoY, while there was a 22% reduction YoY in exports at 6,771 vehicles.
Tata Passenger Vehicles saw a 69% increase YoY in its wholesales at 142,755 vehicles owing to solid festive demand and debottlenecking steps, said Tata Motors.
Girish Wagh — Tata Motors Executive Director said: “In Q2 FY23, the CV industry witnessed consistency in demand across segments. Our sharp focus on retail resulted in retail sales outperforming wholesale by 1.3% during Q2 FY23.
“To better serve the evolving needs of our customers, we launched an efficient range of smart trucks in MHCV and ILCV segments, as well as best-in-class pickups, raising the benchmarks for safety, comfort, load carrying capacity while reducing their total cost of ownership.