By Ettech Last Updated

Copyright indiatimes

Tata Motors shares dropped 3.4% to an intraday low of Rs 659.55 on the BSE during early trading on Thursday. The fall came after reports suggested that Jaguar Land Rover (JLR), the Tata-owned British luxury carmaker, could face a financial loss of up to £2 billion due to a major cyberattack. This figure could be larger than the company’s total profit after tax for the last financial year.JLR cyberattack: DetailsJLR was hit by a cyberattack on September 2. The incident forced the company to stop production at several key factories. At first, the shutdown was expected to last until September 24, but it was later extended to October 1, causing a long production disruption.A hacker group calling itself “Scattered Lapsus$ Hunters” claimed responsibility. The group, believed to be English-speaking teenagers linked to a previous attack on Marks and Spencer, said they had broken into JLR’s systems. They showed two images to the BBC. One showed internal instructions for troubleshooting, and the other showed internal computer logs. These suggested they had access to private company information.Financial strainJLR did not have insurance to cover this type of cyber incident, which has made the financial impact worse. The company had made £1.8 billion in profit after tax in FY25, so a £2 billion loss could cancel out or even go beyond that entire year’s profit.Reports said JLR had been trying to arrange cyber insurance through Lockton, a large insurance broker, but the policy was not in place before the attack.Tata Motors has not confirmed the exact amount of money being lost. However, reports suggest that JLR may be losing around £50 million (about $68 million) each week.JLR makes up about 70% of Tata Motors’ total revenue, so the damage to its business has serious effects on the parent company.“Our teams continue to work around the clock alongside cybersecurity specialists, the NCSC and law enforcement to ensure we restart in a safe and secure manner,” Tata Motors said in a public statement.Jobs and factories affectedThree of JLR’s factories in the UK have been badly affected. These plants usually build around 1,000 cars a day. The production stoppage has led to losses of tens of millions of pounds, and many of JLR’s 33,000 workers have been asked to stay home.The issue has also caused concern for the wider UK supply chain. JLR works with many smaller suppliers and supports around 104,000 jobs across the country.The Unite trade union warned that if the disruption goes on too long, jobs could be at risk. It has asked the government to step in and help. In response, the UK government said on Friday that it is working closely with JLR to understand how the supply chain is being affected.