Ashok Leyland, the Indian flagship of the Hinduja Group, announced its June quarter results during market hours on Thursday, August 14, reporting a 13.4% year-on-year rise in consolidated net profit to ₹594 crore, compared to Rs525 crore in the same quarter last year. The figure also came in higher than analysts’ estimates.
The company reported its highest-ever Q1 revenue of ₹8,725 crore, up 1.5% from ₹8,598 crore in Q1FY25, along with a record Q1 in terms of CV volumes at 44,238 units.
At the operating level, EBITDA came in at ₹970 crore, a 6.5% increase from ₹911 crore in Q1FY25, with margins expanding by 50 basis points to 11% from 10.6%, driven by cost-control measures.
“Domestic MHCV industry volumes remained almost flat on the high base of last year’s Q1. Ashok Leyland’s MHCV truck volumes (excluding Defence) grew 2%, registering a year-on-year market share increase from 28.9% to 30.7%. MHCV bus TIV (excluding EVs) grew by 5%. Ashok Leyland maintained its domestic market leadership position in MHCV buses,” the company said in its earnings filing.
The company also reported its highest-ever Q1 LCV domestic volume at 15,566 units. Export volumes in Q1 grew 29% year-on-year to 3,011 units. The Power Solutions, Aftermarket, and Defence businesses also contributed strongly to the financial performance.
Mr. Dheeraj Hinduja, Chairman, Ashok Leyland, said, “Ashok Leyland has delivered a robust Ql performance, exceeding the expectations through effective market execution while maintaining rigorous cast management.”
“Our electric mobility subsidiary, Switch Mobility, continues to gain good traction and has achieved positive EBITDA. We are redoubling our efforts in the international markets and Defence business. Reinforcing our product superiority and strong customer orientation, we are sharpening our focus to playa pivotal role in our industry,” he further added.
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