Ashok Leyland Q3 results: Net profit jumps 61% YoY to ₹580 crore

The Hinduja group firm’s EBITDA stood at ₹1114 crore during the quarter under review against Rs. 797 Cr (8.8%) during the December quarter.

The commercial vehicle sales volume increased significantly to 1,38,416 units in the first nine months of FY 24. The company also performed well in terms of exports. Despite global headwinds, Ashok Leyland’s export volume increased by 6.5% YoY to 3128 units in Q3 FY24 against 2936 units in the same period last year, registering a growth of 6.5%.

Company debt stood at ₹1747 crore at the end of the third quarter of the present financial year.  In the December quarter, Ashok Leyland finalised orders for more than 3800 buses from State Transport Undertakings. Marking Ashok Leyland’s entry into the EV market, the company began the delivery of its first Electric 55T Tractor – Trailer, and its first 14T Boss Electric Truck.

“The present favourable market conditions are expected to hold in the foreseeable future. The steady progress we are making in sales volume and profitability is backed by products that deliver superior performance and customer value coupled with robust customer engagement across segments,” said Managing Director & CEO, Ashok Leyland Shenu Agarwal. 

The present favourable market conditions are expected to hold in the foreseeable future, he added. To consolidate profit gains in the domestic market, the company is adapting a suite of new products in conventional and alternate propulsion technologies.

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Published: 05 Feb 2024, 08:18 PM IST