GROWING RESPONSIBLY

TATA MOTORS delivered record-breaking FY24 results, with CV, PV, and JLR divisions excelling amid electrification, innovation, and sustainability momentum

- By GIRISH WAGH

TATA MOTORS shifted into top gear in FY24, delivering its best-ever financial performance, with all three of its businesses—Commercial Vehicles (CV), Passenger Vehicles (PV), and Jaguar Land Rover (JLR)—firing on all cylinders. The auto giant not only reported record revenues and profits but also made bold strides toward electrification, innovation, and sustainability.

For the year ended March 31, 2024, Tata Motors posted a consolidated revenue of Rs 4,37,932 crore, up 26 per cent year over year. Net profit surged to an all-time high of Rs 31,807 crore, compared to Rs 2,690 crore in FY23. It marked the company’s return to consistent profitability, driven by operating leverage, premium product mix, and sustained demand across categories.

Calling FY24 “a defining year,” Chairman N. Chandrasekaran said: “Tata Motors has emerged stronger, more resilient, and future-ready. The company has executed with discipline, improved margins, reduced debt, and sharpened focus on innovation and sustainability.”