Ashok Leyland Q3 results: Standalone net profit jumps 61% YoY to ₹580 crore, revenue comes in at ₹9,273 crore
Table of Contents
Ashok Leyland Q3 results :For the quarter ending in December of FY 23–24
For the quarter ending in December of FY 23–24, Commercial Vehicle recorded a 60.5% YoY increase in its standalone net profit to ₹580 crore. Its net profit for the previous year was ₹361.34 crore. Compared to the same quarter last year, the company’s net standalone sales climbed by 2.7% YoY to ₹9,273 crore.
EBITDA for the Hinduja group company was ₹1114 crore in the reviewed quarter compared to Rs. 797 Cr (8.8%) in the December quarter.
Ashok Leyland Q3 results : In the first nine months of FY 24
In the first nine months of FY 24, sales of commercial vehicles rose to 1,38,416 units, a significant increase. The business did well in terms of exports as well. In Q3 FY24, Ashok Leyland’s export volume climbed 6.5% YoY to 3128 units from 2936 units in the same period the previous year, recording a surge of 6.5% despite global challenges.
After the third quarter of the current fiscal year, the company’s debt was ₹1747 crore. Ashok Leyland completed orders for over 3800 buses from State Transport Undertakings during the December quarter. Ashok Leyland started delivering its first 14T Boss Electric Truck and its first Electric 55T Tractor-Trailer, signalling the company’s entry into the EV industry.
Ashok Leyland Q3 results : the current favourable market conditions
It is anticipated that the current favourable market conditions will persist for the foreseeable future. Products that offer exceptional performance and customer value combined with strong customer interaction across segments are the foundation of the consistent improvement we are making in sales volume and profitability, according to Ashok Leyland Shenu Agarwal, Managing Director & CEO.
Ashok Leyland Q3 results : Ashok Leyland shares ended the day 2.96% higher
He went on to say that the current favourable market conditions are anticipated to last for some time. The corporation is adopting a suite of new goods in both conventional and alternative propulsion technologies to solidify profit gains in the local market.
On the BSE, Ashok Leyland shares ended the day 2.96% higher at ₹179.25 per equity share. At that time, its market capitalization was ₹52,630.08 crore
He went on to say that the current favourable market conditions are anticipated to last for some time. The corporation is adopting a suite of new goods in both conventional and alternative propulsion technologies to solidify profit gains in the local market.
On the BSE, Ashok Leyland shares ended the day 2.96% higher at ₹179.25 per equity share. At that time, its market capitalization was ₹52,630.08 crore.
Ashok Leyland Q3 results : Price of shares of Ashok Leyland NSE
Price of shares of Ashok Leyland NSE, Ashok Leyland Q3 results 2024, projected share price for Ashok Leyland: Tuesday saw Ashok Leyland stay in the spotlight for investors as the manufacturer of commercial vehicles posted a record financial performance for the October–December quarter that exceeded Street projections in every way. For the third straight session, the Chennai-based automaker’s shares increased by more than 4% to trade at Rs 187 and Rs 186.9 apiece on the NSE and BSE, respectively. The company produces a variety of commercial vehicles, including buses and trucks.
Products that offer exceptional performance and customer value, along with strong customer interaction across all sectors, are the foundation of the consistent improvement we are achieving in sales volume and profitability, according to Ashok Leyland Executive Chairman Dheeraj Hinduja.
