Ashok Leyland Ltd on Thursday released its fiscal first quarter earnings report with standalone profit at Rs 593.73 crore, in line with estimates. The profit was 12.85 per cent higher in comparison to Rs 525.58 crore recorded during the corresponding quarter of FY25. It posted revenue from operations at Rs 8,724.51 crore, up 1.47 per cent as against Rs 8,598.53 crore recorded during the first quarter of previous financial year. The company EBITDA stood at Rs 970 crore.
According to a CNBC TV18 poll, Ashok Leyland was expected to post Q1 profit at Rs 593 crore and revenue was estimated at Rs 8,822 crore.
On a consolidated basis, the company recorded Q1 profit at Rs 657.72 crore, up 19.44 per cent on-year. Revenue for the period stood at Rs 11,708.54 crore, posting a growth of 9.46 per cent.
Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said, “Our focus on growing our non-CV portfolio is also helping us deliver record performances in many quarters in a row. Our priority remains achieving mid-teen EBITDA margins in the medium term, while advancing our commitment to future -ready technologies.”
Ashok Leyland Q1: Performance across segments
During the quarter in review, the company recorded its highest ever CV volumes of 44,238 units. While the domestic MHCV industry almost remained flat on a high base of last year during Q1, Ashok Leyland said, the MHCV Truck volumes (excluding Defence) grew 2 per cent registering YOY market share increase from 28.9 per cent to 30.7 per cent. MHCV Bus TIV (excluding EVs) grew by 5 per cent. Ashok Leyland maintained its domestic market leadership position in MHCV buses.
LCV domestic Q1 volume came in at 15,566 units. The export volume in Q1 grew by 29 per cent YOY at 3,011 units. The Power Solutions, Aftermarket and Defence businesses also contributed strongly to the financial performance, it said in a regulator filing.
Dheeraj Hinduja, Chairman, Ashok Leyland, said, “Ashok Leyland has delivered a robust Q1 performance, exceeding the expectations through effective market execution while maintaining rigorous cost management.”