Tata Motors Ltd’s British unit Jaguar Land Rover Automotive Plc (JLR) saw a significant turnaround in the second half of FY23. Investors have approved, taking Tata Motors shares up by a third so far in 2023.
JLR’s performance has helped Tata Motors clock record consolidated revenue in FY23. The company also swung to a net profit of ₹2,690 crore in FY23 from a loss in FY22.
In the March quarter (Q4FY23), all the three key verticals—JLR, commercial vehicle (CV) and passenger vehicle (PV)—saw year-on-year and sequential expansion in operating margins. This is encouraging and the segments have better tailwinds going into FY24. But the road isn’t smooth.
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