Ashok Leyland Q2 net up 137%

Ashok Leyland has reported a 137% growth in its net profit for the quarter ended September to Rs 287 crore on a year-on-year basis, riding high on a 64% growth in medium and heavy commercial vehicle (M&HCV) sales. The auto major had clocked a profit of Rs 121 crore in the same quarter last fiscal.

The revenue during the quarter grew 53.5% to Rs 4,940 crore in the quarter under review as compared to Rs 3,218 crore in the same quarter last fiscal. EBITDA during the quarter was higher at R594 crore (12% of the total revenue), the company informed the stock exchanges.

For the second quarter the company reported a total M&HCV sale of 29,884 units as compared to 18,207 units in the same quarter last fiscal. The LCV sale, which was languishing last fiscal, saw an improvement during the quarter at 7,497 units.

For the half-year, the net profit zoomed to R446 crore as compared to R73 crore in the same half last fiscal while revenue grew 54% to R8,781 crore as against R5,695 crore in the same half of last year.

Ashok Leyland Limited