Tata Motors Passenger Vehicles (TMPV), the demerged passenger vehicle arm of Tata Motors, on Friday, November 14, reported net profit of ₹76,170 crore in the second quarter of current financial year, marking a multi fold jump from ₹3,446 crore in the same period last year.

The sharp jump in profit came on the back of exceptional gain of ₹82,616 crore on disposal of discontinued operations after it got demerged from Tata Motors Commercial Vehicles.

The company’s revenue declined 14% in July-September period to ₹72,349 crore as against ₹83,656 crore in the year-ago period.

The Mumbai-based car maker reported weak operational performance as it reported an EBITDA loss (earnings before interest, taxes, depreciation, and amortization) of ₹1,404 crore compared to operating profit of ₹9,914 crore.

The company also had an exceptional gain of ₹2,608 crore on account of employee separation cost and supplier claim/cyber related incident expenses, Tata Motors said.