Ashok Leyland Ltd. (ALL) reported standalone net profit for the September grew 37% over the year earlier period to ₹770 crore.
Revenue from operations contracted by 9% to ₹8,728 crore, while cost of materials declined to ₹5,774 crore from ₹6,992 crore, the bus and truck manufacturer said.
“Despite the challenges, we progressed on our commitment of achieving profitable and sustainable growth with government capex set to accelerate and we should see turnaround in infrastructure activity and demand for LCV in the coming months,” said Executive Chairman Dheeraj Hinduja during an interaction.
“We continue to focus on profitability growth based on our products, higher operational efficiency, enhanced customer experience and expanded reach in domestic and international markets,” he said.
Asserting that ALL’s domestic MHCV market share continues to be 31.2%, he said that they are progressing well on achieving mid-term target of 35% market share. ALL continued to maintain leadership position in the bus segment.
Mr. Hinduja said that they remained optimistic about the industry prospects for the second half and for medium term.
“We have intensified our exports strategy in our focus markets of SAARC, Middle East, Africa and Asia aimed at posting the best performance ever during this fiscal,” he said.
According to him, the company is progressing well on the development of alternative fuel vehicle portfolio. Besides, it was building EV Centre of Excellence, which was progressing well as per plan. The reverse merger of Hinduja Leyland Finance with NxtDigital was expected to conclude the process by Q1 of FY26.
“Our focus on profitability continues. We are happy that we could improve our profitability by focusing on premiumization of our products, addressing cost compression opportunities an continuously elevating our standards of customer service,” said MD & CEO Shenu Agarwal.
The board declared an interim dividend of Rs.2 per share and it will be paid by December 7.
Published - November 08, 2024 07:32 pm IST
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