£109 million in Q1 pretax profit and a 2.8% adjusted EBIT margin left JLR profitable in FY27's opening quarter, though profit fell 68.9% from a year earlier.
£6.0 billion in revenue dropped 9.6% as wholesale volumes fell 9.2%, hit by a fire at a major component supplier, Middle East-linked market disruption and the planned wind-down of outgoing Jaguar models.
£998 million of free cash outflow reduced closing cash to £1.7 billion, while total liquidity stood at £5.9 billion including undrawn credit facilities and loans.
80.8% of wholesale volumes came from Range Rover, Range Rover Sport and Defender, and JLR said strong demand plus four upcoming launches should support its growth plan despite geopolitical, inflationary and regulatory pressures.