Revenue from operations rose 36.33 per cent year-on-year (YoY) to Rs 25,338 crore in Q2 FY27 from Rs 18,585 crore in the corresponding period last year. Revenue also increased 22.60 per cent sequentially.
As of September 30, 2026, the company maintained a net cash position of Rs 15,900 crore.
Girish Wagh, MD & CEO at Tata Motors, said, "Q2 FY27 marked another strong quarter in our journey of consistent, profitable growth. Wholesale volumes grew 42 per cent, with broad-based growth across segments, reflecting healthy underlying demand and disciplined execution. With H1FY27 volumes up 35 per cent, we remain well positioned for a robust FY27, even as growth rates are expected to moderate in the second half against a higher base. Core macroeconomic indicators, sustained infrastructure activity and stable fleet utilisation continue to support freight demand, while interest rates, diesel prices and the broader economic environment remain key monitorables."
Wagh added, "Commodity cost pressures persisted through the first half and remain a headwind. Against this backdrop, we will stay focused on operational excellence, rigorous cost management, enhancing our customer value proposition and advancing our future-ready portfolio. Our priority remains to deliver sustainable, profitable growth and create enduring value for all stakeholders."
Tata Motors reported total wholesale volumes of 1,35,100 units in Q2 FY27. Domestic and export volumes grew 30 per cent and 177 per cent year-on-year, respectively.
Iveco update
On the Iveco transaction, Tata Motors said, "Following receipt of all regulatory approvals, the tender offer has commenced and will remain open for acceptance until 26 October 2026. At Iveco's Extraordinary General Meeting held on 16 October 2026, shareholders approved all proposed resolutions. Subject to successful completion of the tender offer, the settlement is scheduled for 30 October 2026."
Tata Motors shares settled 4.43 per cent lower at Rs 395.70 on Friday. The company's quarterly earnings were announced after market hours.
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