Ashok Leyland Q2 Profit Jumps 37%

13 Nov 2024 , 12:14 PM

Ashok Leyland reported a 37% year-on-year increase in net profit for Q2 FY24, reaching ₹770 crore, up from ₹561 crore in the same quarter last year.

At the time of writing on November 13, 2024 at 12:09 pm, shares of Ashok Leyland is trading at ₹215.70 which is a 2.45% drop than the previous close. The stock has gained a total of 24% in the last one year, and 16% since the beginning of the year.

The company’s profit reached ₹561 crore. Revenue for the July-September quarter fell 9% YoY to ₹8,769 crore, down from ₹9,638 crore in Q2 last year.

Managing Director & CEO of Ashok Leyland attributed the impact on commercial vehicle (CV) demand in H1 FY24 to heatwaves, irregular monsoon patterns, and upcoming elections. Despite the H1 challenges, the company expects an increase in demand for commercial vehicles in the second half of the fiscal year.