TMPV Share Price Plunges 7% Despite Profit Surge - Is Jaguar Land Rover Dragging Tata Motors Down?

Shares of Tata Motors Passenger Vehicles (TMPV) slumped more than 7% in early trade on Monday, November 17, even as the automaker reported a staggering 2,110% year-on-year rise in net profit.

The decline reflected investor concerns over the worsening performance of its luxury arm Jaguar Land Rover (JLR), which continues to drag the consolidated business.

Tata Motors Passenger Vehicles Share Price 
The TMPV share price hit an intraday low of ₹363.15 on the BSE, down 7.2% from its previous close of ₹391.60.
Brokerages noted that while the India passenger vehicles business performed largely in line with expectations, JLR is facing significant challenges in its key markets, even beyond the cyber incident.

As a result, most analysts maintained a ‘reduce’ or ‘sell’ recommendation on the newly demerged TMPV stock.

Tata Motors Passenger Vehicles Q2 Results 
TMPV reported a quarterly profit of ₹76,170 crore, driven almost entirely by a one-time notional gain of ₹82,616 crore. Excluding this exceptional item, the company actually posted a loss of ₹6,368 crore, a sharp reversal from the ₹3,056 crore profit in the same quarter last year and ₹2,597 crore in Q1 FY26.
Revenue dropped 13.5% YoY to ₹72,349 crore.

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JLR Swings to Loss, Cuts Guidance Sharply
Jaguar Land Rover reported a £559 million quarterly loss and slashed its full-year outlook after a cyberattack disrupted production across its facilities.
The Defender manufacturer now expects an operating margin of 0% to 2% in FY26, down from its earlier target of 5% to 7%, following tariff uncertainties and supply disruptions. JLR also projected a negative free cash flow of £2.2–£2.5 billion, compared with its previous expectation of breaking even.

Management indicated that Q3 will “also see some impact” from the cyber incident, although production has largely normalised in November.