Ashok Leyland, the Hinduja group flagship announced a 60.5 percent rise in its standalone net profit on Monday.
Ashok Leyland Limited (ALL): Steady Progress
The commercial vehicle manufacturer, Ashok Leyland Limited (ALL), registered a rise in its standalone profit by 60.5 percent. As a result, this became the top-line revenue for the company.
The increased profit rose from Rs 580 crores for the quarter of December. The company’s standalone net profit registered a 60 percent YoY leap making it Rs 580 crores. Furthermore, the Hinduja Group flagship entered a net profit of Rs 361 crores a year ago.
The EBITDA of Ashok Leyland positioned at Rs 1,113.96 crores during the quarters in opposition to Rs 797 crores during the quarters of December.
Ashok Leyland: Sales Volume
There was a notable increase in the sales volume in the first nine months of FY24. The sales volume increased sufficiently to 1,38,416 units in the first nine months.
Notwithstanding the global blow, the export volume of the commercial vehicle manufacturer, ALL, rose by 6.5 percent YoY to 3128 units in Q3 FY24 in opposition to 2936 units in the very period last year. This resulted in a growth of 6.5 percent.
Ashok Leyland to “achieve mid-term goal,” says the Executive Chairman
As per reports, Dheeraj Gopichand Hinduja, the Executive Chairman of Ashok Leyland recently gave a positive statement.
Dheeraj Hinduja stated that FY24 would be a record-breaking year for the company in every term.
As per the chairman of ALL, the company is expecting a net profit based on the performance for the first nine months of FY24. He also stated that there might be chances of successfully bringing out all-time high sales for FY24.
ALL recorded the highest top-line of Rs 36,260 crores in FY23. Besides, the commercial vehicle manufacturer entered highest net profit of Rs 1,983 crores in FY19.
The executive chairman made a strong statement saying that the economic round numbers should be much better compared to FY19.
Furthermore, he added that the current favorable condition of the market is expected to ‘hold’ in the predicted future.
ALL: One of the leading Commercial Vehicle Manufacturers
India’s second-largest manufacturer of commercial vehicles, Ashok Leyland (ALL), is a flagship owned by Hinduja Group. The vehicle manufacturer company is headquartered in Chennai. The company was established in the year 1948, as Ashok Motors by Raghunandan Saran, an Indian freedom fighter. Later in the year 1955, it was renamed as Ashok Leyland following the collaboration with British Leyland.
In the year 2007, the Hinduja Group managed to buy Iveco’s stake in Ashok Leyland Limited. Therefore, ALL is now a flagship of the Hinduja Group.
Besides being India’s 2nd Largest Commercial Vehicle Manufacturer, the company is the 4th largest manufacturer of buses in the world. Additionally, Ashoka Leyland Limited (ALL) is the 12th largest manufacturer of trucks in the world. This leading Commercial Vehicle Manufacturer also particularizes in engines and spare parts for marine and industrial uses.
