Ashok Leyland Executive Vice Chairman Dheeraj Hinduja says that the present favourable market conditions are expected to hold in the foreseeable future.
Ashok Leyland Ltd. reported on Monday standalone Q3 net profit year-on-year rose 60% to ₹580 crore.
Revenue from operations increased to ₹9,273 crore from ₹9,030 crore, while costs of materials contracted to ₹6,555 crore from ₹7,203 crore.
The commercial vehicle manufacturer said in a statement that despite global headwinds, it achieved export volume of 3128 units (2,936 units). Debt was at ₹1,747 crore with debt-equity at 0.2 times (0.3 times).
In the first nine months period, ALL achieved high commercial vehicle sales volume of 1,38,416 units. In Q3, the company invested ₹662 crore into Optare PLC/Switch as prospects of eLCVs and eBuses continue to strengthen.
“The present favourable market conditions are expected to hold in the foreseeable future,” said Executive Chairman Dheeraj Hinduja.
He also said that a suite of new products in conventional and alternate propulsion technologies are slated for introduction progressively to consolidate ALL’s gains in the domestic market and to facilitate its forays in the overseas market.
MD Shenu Agarwal said they were able to achieve significant improvement in net profits due to confluence of good volumes, better price realisation and higher cost savings.
Other businesses such as after-market, power solutions and defence also continued to strongly contribute to the top line and margins, he said.
