Ashok Leyland Q1 Profit Drops By 45% To 230 Cr
Ashok Leyland Limited has reported a revenue of Rs. 5,684 Cr which was 9% lower than the same period last year (Rs. 6263 Cr). The Total Industry Volume had come down by 17%. PBT for the quarter was at Rs. 361 Cr (Rs. 536 Cr) and PAT was at Rs. 230 Cr (Rs. 422 Cr). EBITDA for the quarter was at 9.4%. The Company’s market share in the MHCV segment for the quarter grew by 4% to 34.1%.
Mr. Dheeraj G Hinduja, Chairman, Ashok Leyland Limited said, “While the industry has witnessed a decline in the volume of 17%, Ashok Leyland’s market share has grown by 4%. Our EBITDA at 9.4% despite the decline in revenues signifies efficient cost management in the Company. We are well on course to introduce BS-VI vehicles and will be seeding vehicles shortly. Despite a drop in TIV by 5%, our LCV business continues to do very well and posted a growth of 12%.”
Mr. Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland Limited said, “With signs of slower demand, we are closely watching the developments in the industry. We continue to take cost out and drive productivity and growth initiatives.”
The Company has published the Consolidated Quarterly results for the first time in this quarter.
The company launched a slew of products in this quarter; Boss 1916, 4623 Tractor, 4223 MAV, High Horse Power Tractor 5532 and the 24 & 32 feet fully built containers in the premium and economy segment were the star introductions. Under the Customer Solutions Business, the Company also launched “Sadak ka Saathi” a breakdown assistance program with Hindustan Petroleum Corporation Ltd. This introduction makes Ashok Leyland, one of the largest roadside assistance providers in the country for Commercial Vehicles.
