Low input costs, truck demand lift Leyland's Q3 profit

Ashok Leyland, India's second-largest maker of commercial vehicles, beat Street estimates to post its highest-ever profit for the December quarter on the back of lower input costs and a resurgence in demand for trucks during the quarter.

- Nehal Chaliawala

The company also turned net debt-free as of 31 December, with a net cash position of ₹958 crore compared to a net debt of ₹1,747 crore a year ago.

The truck and bus maker said it will invest ₹200 crore in its lending unit, Hinduja Leyland Finance, and ₹500 crore in its electric vehicle arm, Optare, which makes electric buses under the Switch brand.