Commercial vehicle maker Ashok Leyland Ltd., has posted a standalone net profit of ₹199 crore for the second quarter ended September against a loss of ₹83 crore reported in the year ago period and achieved a market share of 32%.
During the quarter under review, revenue from operations rose by 86% to ₹8,223 crore, total expenditure increased to ₹7,982 crore from ₹4,595 crore, it said in a regulatory filing.
ALL’s domestic MHCV volume grew by 113% at 25,475 units, which is more than double that of industry growth. This helped ALL to achieve market share gains of 9.6% in the quarter, it said in a statement.
LCV volumes at 17,040 units were higher by 28%. Export volumes (MHCV & LCV) increased by 25% to 2,780 units. Debt stood at ₹2,677 crore. It was 0.37 times against 0.48 times.
“We see the demand continuing in all segments of trucks and passenger vehicles and we remain confident and optimistic about the future,” said Dheeraj Hinduja, executive chairman.
“While we will pursue growth, we want to do it profitably and sustainably, the team continues its focus on operating costs and margins. We have been driving our other businesses like aftermarket, power solutions, Defence and digital customer solutions which have contributed increasingly to our revenue,” said Gopal Mahadevan, director & CFO.
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