Tata Motors’ commercial-vehicle sales rose 42.7% in the September quarter, while estimates reported by The Economic Times show a wide gap in projected adjusted profit growth.
The company put total Q2 FY27 sales at 135,114 units, compared with 94,681 in the same quarter a year earlier. Domestic sales reached 113,982 units, up 30.9%, while international sales totaled 21,132 units, an increase of 177.3%.
The Economic Times reported revenue estimates from JM Financial and Motilal Oswal Financial Services (MOFSL). JM Financial projected revenue of ₹24,218.4 crore, up 43.6% year over year; MOFSL forecast net operating income of ₹24,638.1 crore, a 45.4% increase.
For adjusted profit after tax, JM Financial estimated ₹1,940.2 crore, up 44.3%. MOFSL projected ₹1,690.1 crore, a 25.7% gain. The brokerage estimates are for the quarter and have not yet been reported as company results.
The firms also differ on earnings before interest, taxes, depreciation and amortization (EBITDA). JM Financial forecast ₹2,843.4 crore and an 11.7% margin; MOFSL estimated ₹2,583.4 crore and a 10.5% margin.
Tata Motors said its commercial-vehicle price changes took effect July 1, with increases across the range capped at 2.5%. The company said the adjustment was intended to counter some of the increase in commodity and other input expenses.
Managing Director and CEO Girish Wagh listed diesel prices, potential interest-rate hikes and global uncertainty among the issues facing the business, alongside commodity costs. He said a high comparison base in the second half of the fiscal year could slow growth rates.
The company connected demand for heavy commercial vehicles with infrastructure, construction and mining activity. It associated demand for intermediate and light commercial vehicles with e-commerce and logistics.
An NSE filing schedules the board to consider financial results for the quarter and half year ended Sept. 30 on Friday, Oct. 23.
