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By Express News Service
CHENNAI: Hinduja Group-Owned Ashok Leyland posted a three-fold growth in first-quarter net profit at Rs 370.10 crore helped by higher sales riding on increased infrastructure activity in India. 19659003] The company's net profit stood at Rs 111.24 crore a year earlier. "The Total Industry Volume registered 84 percent growth driven by Tipper and MAVs. There was also the impact of base effect, "said Vinod Dasari, Managing Director, Ashok Leyland Limited.
The company's domestic sales of medium and heavy-duty vehicles rose 47 per cent to Rs 6250 crore. The truck major, which had last seen in its last commercial year last year, sold 33% LCVs to 11,481 units compared to the quarter.
Ashok Leyland's total revenue rose nearly 38 per cent to Rs 6,300.11 crore in the quarter, while earnings before tax, depreciation and amortization rose 10.4 per cent compared to 7.2 per cent increase a year ago. "We continue to focus on profitable growth and tight control on capital markets," said Dasari, adding, "the firm is growing rapidly. The company also said that it is one of the world's most important strategies for the future of LCVs and MCHVs.
"Our net cash in the balance sheet is Rs 1,165 crore. Focus on operating costs, product mix, and material cost optimization will continue, even as we pursue growth, "said Gopal Mahadevan, CFO, Ashok Leyland.
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