Ashok Leyland Q3 Profit Surges 61% to Rs 580 Cr | Business News
Feb 05, 2024 20:14
Ashok Leyland's net profit jumped 61% to Rs 580 crore in the December quarter, driven by strong sales. Revenue also increased, indicating positive market conditions.
New Delhi, Feb 5 (PTI) Hinduja group flagship Ashok Leyland on Monday said its net profit increased 61 per cent to Rs 580 crore for the December quarter, riding on robust sales.
The company had reported a net profit of Rs 361 crore in the year-ago period.
Revenue from operations rose to Rs 9,273 crore in the period under review from Rs 9,030 crore in the year-ago period, Ashok Leyland said in a statement.
"The steady progress we are making in sales volume and profitability is backed by products that deliver superior performance and customer value coupled with robust customer engagement across segments," Ashok Leyland Executive Chairman Dheeraj Hinduja said.
The present favourable market conditions are expected to hold in the foreseeable future, he added.
A suite of new products in conventional and alternate propulsion technologies is slated for introduction progressively to consolidate gains in the domestic market and facilitate forays in overseas markets, Hinduja said.
Shares of the company on Monday ended 2.96 per cent up at Rs 179.25 apiece on the BSE.
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