Ashok Leyland Q3 Profit Surges 61% to Rs 580 Cr | Business News
By Rediff Money Desk, NEWDELHI 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.
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.12 (+ 2.13)
- 64303795
- G G Engineering
- 1.51 ( -5.63)
- 28492226
- Guj. Toolroom Lt
- 15.37 (+ 4.99)
- 19678431
- Srestha Finvest
- 0.69 ( -1.43)
- 14826074
- AvanceTechnologies
- 0.80 ( -2.44)
- 14124154
MORE NEWS
India's FY'25 GDP Growth Revised Downward: NITI...
NITI Aayog member Arvind Virmani has revised India's FY'25 GDP growth projection to...
IMF Downgrades Pakistan's GDP Growth to 3% for...
The IMF has downgraded Pakistan's GDP growth forecast for 2025 to 3%, citing ongoing...
India's Auto Industry to be World's Largest in...
India's automobile industry is set to become the world's largest within five years,...