Ashok Leyland Q2 Profit Surges Over Two-Fold
Chirag Gothi / 05 Nov 2015
Ashok Leyland, the country's second largest commercial vehicle maker, reported over two-fold jump in quarterly net profit, helped by strong volume growth. The company has reported a net profit of Rs 287 crore for the quarter ended September 30, 2015; an increase of 137 per cent, as compared to Rs 121 crore for the quarter ended September 30, 2014.
Ashok Leyland, the country's second largest commercial vehicle maker, reported over two-fold jump in quarterly net profit, helped by strong volume growth.
The company has reported a net profit of Rs 287 crore for the quarter ending September 30, 2015; an increase of 137 per cent, as compared to Rs 121 crore for the quarter ended September 30, 2014.
The total revenue rose by 53.5 per cent to Rs 4,940 crore for the quarter ended September 30, 2015 from Rs 3,218 crore for the quarter ended September 30, 2014.
The EBITDA growth stood at 154 per cent amounting to Rs 594.4 crore as against Rs 234 crore in Q2FY15. Margins recorded 12.18 per cent as against 6.2 per cent YoY.
The company has sold 37,337 vehicles in Q2FY16, a growth of 47 per cent over 25,379 vehicles in Q1FY15. During the quarter sales, volume in Medium and Heavy Commercial Vehicles stood at 29884 units as against 18207 units. LCV sales stood at 7,497 units as compared to 7,172 units.
The release quoting Vinod K Dasari, Managing Director, the market for commercial vehicles is back after a long downturn. The performance was also aided by the company’s focus on customer, cost control and reigning-in discounts.
For six months, ending September 30, 2015, the company’s net profit stood at Rs 446 crore, rising by 511 per cent Y-o-Y. The company's revenue at Rs 8,781 crore registered growth of 54 per cent Y-o-Y.
Yesterday, the company’s result was declared after market hour. The stock price closed up around two per cent to Rs 92.15 on the BSE.
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