Ashok Leyland Q3 Profit Surges 34.63% to Rs 819.67 Cr

New Delhi, Feb 12 (PTI) Commercial vehicle maker Ashok Leyland Ltd on Wednesday reported a 34.63 per cent rise in consolidated net profit at Rs 819.67 crore in the third quarter ended December 31, 2024, riding on strong sales, specially in overseas markets.

The company had posted a profit of Rs 608.85 crore in the third quarter last fiscal, Ashok Leyland Ltd said in a regulatory filing.

Revenue from operations in the quarter under review stood at Rs 11,995.21 crore as against Rs 11,065.63 crore in the corresponding period a year ago, it added.

Total expenses in the third quarter were higher at Rs 10,937.89 crore as compared to Rs 10,155.07 crore, the company said.

Ashok Leyland said this was the company's strongest ever Q3 with revenue and profits registering an all-time high for a third quarter.

Commenting on the performance, Ashok Leyland Chairman Dheeraj Hinduja said, "The steady progress we are making in profitability is backed by products that deliver superior performance coupled with robust customer engagement."

Sales in international markets are showing strong growth, and the company expects this momentum to accelerate with the launch of new products, he added.

The company said it achieved export volume of 4,151 units in Q3 FY25 against 3,128 units in the same period last year, a growth of 33 per cent.

Hinduja said, "We are also continuing to invest in battery electric and alternate fuel products to maintain our technology leadership position. Switch has a healthy order book and has plans to come out with a series of products in the next 12 months."

Ashok Leyland Managing Director & CEO Shenu Agarwal said as compared to Q2, the MHCV (medium and heavy commercial vehicle) market has revived significantly in Q3 and is expected to improve further in the last quarter.

On the outlook, he said, "We remain optimistic about the growth of the CV industry in the medium and long term as macroeconomic factors continue to be favourable.