Tata Motors reported a consolidated net profit of ₹4,003 crore for the first quarter of fiscal year 2026, marking a decline of over 62% compared to ₹10,587 crore in the same period last year. The company’s profit slump to ₹3,924 crore was influenced by a drop in Jaguar Land Rover (JLR) revenue, attributed in part to US tariffs. Both passenger vehicle and commercial vehicle sales declined during the quarter. Despite these challenges, Tata Motors' quarterly profit was slightly lower than expected but in line with estimates. The company is progressing with a planned demerger, with an effective date set for October 1. Tata Motors highlighted that recent UK-US and EU-US trade agreements are expected to reduce tariffs from 27.5% to 10% and 15%, respectively, which may alleviate some tariff-related pressures. Jaguar Land Rover’s management remains optimistic, maintaining guidance despite the impact of tariffs and the ongoing transition to electric vehicles. The new CEO of Jaguar Land Rover emphasized positive customer reception to the Jaguar rebranding, dismissing criticism from US President Donald Trump.