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Ashok Leyland Q2 Results: Its revenue from operation during July-September 2024 falls by 9.01 per cent to Rs 8,768.83 crore, compared with Rs 9,638.04 crore in the year-ago period.
Ashok Leyland has declared its Q2 results.
Ashok Leyland on Friday reported a 37.27 per cent jump in its net profit to Rs 756.42 crore for the second quarter ended September 2024. However, its revenue from operation during July-September 2024 fell by 9.01 per cent to Rs 8,768.83 crore, compared with Rs 9,638.04 crore in the year-ago period.
The company’s net profit had stood at Rs 561.01 crore in the corresponding period last year, according to a regulatory filing.
Following the results, Ashok Leyland’s shares were trading nearly 1.3 per cent higher at Rs 218.40 apiece on the BSE.
Ashok Leyland on Friday also declared an interim dividend of Rs 2 per share.
“Owing to continued improvement in company’s fiscal performance and a positive outlook for the balance half of the year, the Board has recommended an interim dividend of Rs 2 per share on face value of Re 1,” said Ashok Leyland in a stock exchange filing.
Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said: “The Indian economy is expected to do well in the second half which would benefit our industry. We remain optimistic about industry prospects for H2 on back of strong macroeconomic fundamentals, supported by resumption of Government spending in Capex and good monsoons. Our robust all-round performance in Q2 is backed by our technological and cost leadership. Internationally as well, we are intensifying our expansion strategy in our focus markets of SAARC, Middle East, Africa and Asia, aimed at posting the best performance ever during this fiscal. We continue to invest in new products with alternative fuels. Switch is doing well with an order book of nearly 2,000 buses.”
Shenu Agarwal, MD & CEO, Ashok Leyland, said: “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, and continuously elevating our standards of customer service. Our PAT for Q2FY25 is an all-time high. Our EBITDA margins have improved both sequentially and on YoY basis, making this the seventh consecutive quarter of double-digit EBITDA. We are well on track to achieve mid-teen EBITDA in the medium term.”
EBITDA for the quarter was up at 11.6% (Rs 1,017 crore) as against 11.2% (Rs 1080 crore) in the corresponding period last year, said the company.
