For FY24, Tata Motors is planning a consolidated capex of £3.8 billion for financial year 2024, which includes £800 million for Tata Motors and £3 billion for JLR. According to group chief CFO PB Balaji, the business' strong performance by JLR and continued price profitability by the passenger and commercial car sectors allowed the company to enhance cash flows and reduce net debt by £250 million in Q1FY24.
The company recorded a 42% jump in cumulative revenue at £10.22 billion with a 177% jump in Ebitda at £1.47 billion all showing a sharp improvement driven by JLR even as the passenger business was steady. Profit before taxes was £530 million, while net profit was £330 million. Due to robust wholesales and an improved mix, JLR's revenues increased by 57% to about 7 billion pounds. The transition to BS6 Phase 2 resulted in a 15% decrease in commercial vehicle numbers due to manufacturing loss, while profits improved as a result of a better mix and price increases.
The company’s consolidated net debt came down by £250 million in Q1FY24 at around £4.10 billion of which Tata Motors India share was £820 million.