Ashok Leyland Reports Robust Q3 with 60.5% YoY Rise in Standalone Net Profit to ₹580 Crore

6 Feb 2024 , 11:49 AM

Ashok Leyland, a commercial vehicle manufacturer, saw a 60.5% YoY increase in standalone net profit to ₹580 crore in Q3 FY 23-24, up from ₹361.34 crore in the previous year.

Standalone revenue rose by 2.7% YoY to ₹9,273 crore compared to ₹9,029.7 crore in the same period last year. EBITDA for the quarter reached ₹1,114 crore, marking an 8.8% increase from ₹797 crore in the December quarter.

Commercial vehicle sales volume surged to 138,416 units in the first nine months of FY24, with exports growing by 6.5% YoY to 3,128 units in Q3 FY24.

Company debt stood at ₹1,747 crore at the end of the third quarter. In Q3, Ashok Leyland secured orders for over 3,800 buses from State Transport Undertakings and initiated deliveries of its Electric 55T Tractor-Trailer and 14T Boss Electric Truck.

Managing Director & CEO, Shenu Agarwal, highlighted the expectation of continued favorable market conditions, emphasizing the company’s focus on new products and technologies to consolidate gains. The stock was trading at ₹178.20, showing a 0.31% decrease from the previous close.

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