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Ashok Leyland Q1 net profit up 8x at ₹576 cr
Mint Mumbai
|July 22, 2023
Hinduja group flagship saw revenue increase 13.4% to ₹8,189 crore
Commercial vehicle maker Ashok Leyland on Friday reported an eightfold increase in its June quarter profit as an aggressive cost-savings programme and higher sales volume boosted profitability.
Net profit rose to ₹576 crore in the three months ended 30 June from ₹68 crore in the year earlier, the company said on Friday. Earnings before interest, taxes, depreciation and amortization (Ebitda) rose to 10% or ₹821 crore in the June quarter. The Hinduja group flagship saw revenue in the June quarter increase 13.4% to ₹8,189.3 crore from ₹7,222.8 crore. The stock settled at its 52-week high of ₹181.90, up 3.56%, on BSE on the back of an improved margin outlook for the fiscal after the company announced its earnings.
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