Ashok Leyland Q3 Results: Standalone Net Profit Surges, Exports Show Growth

Ashok Leyland Ltd., a leading commercial vehicle manufacturer, has reported a significant surge in standalone net profit for Q3. The company’s net profit rose by 60% to ₹580 crore, compared to the previous year. Revenue from operations also increased to ₹9,273 crore, reflecting growth in the business.

Despite global headwinds, Ashok Leyland achieved a remarkable export volume of 3128 units, marking a growth of 6.5% year-on-year. This indicates the company’s strength in the international market.

In a strategic move, Ashok Leyland invested ₹662 crore into Optare PLC/Switch, as prospects for electric commercial vehicles (eLCVs) and electric buses (eBuses) continue to strengthen. This investment reflects the company’s commitment to sustainable and environmentally friendly transportation solutions.

Executive Chairman Dheeraj Hinduja expressed confidence in the future market conditions, stating that the present favorable market conditions are expected to hold in the foreseeable future. He also mentioned that Ashok Leyland has plans for the introduction of a suite of new products in conventional and alternate propulsion technologies, which will further strengthen the company’s position in the domestic and overseas markets.

Managing Director Shenu Agarwal highlighted the factors contributing to the significant improvement in net profits. These factors included good volumes, better price realization, and higher cost savings. Other business segments such as after-market, power solutions, and defense also contributed strongly to the company’s top line and margins.