Ashok Leyland Q3 revenue up 29pc at Rs. 2,880 crores

Date: 09 Jan 2018

Hinduja Group flagship, Ashok Leyland has reported a 29pc increase in its revenue for the third quarter of the current fiscal at Rs. 2,880 crores as against Rs. 2,227 crores for the corresponding quarter of 2010-11. Net profit for the quarter was up by 54pc at Rs. 67 crores (Rs. 43 crores). EBITDA was up 27%. Sales volume for the quarter witnessed a healthy increase of 26pc at 23,175 nos. (18,437 nos.). Employee Cost rose by 12pc at Rs. 272 crores (Rs. 244 crores) on the back of bonus payouts in the quarter. Other Expenditure increased by 42pc at Rs. 268 crores as against Rs. 189 crores for the corresponding quarter of the previous fiscal as also did Financial Expenses, up by 16pc at Rs. 55 crores (Rs. 47 crores) due to increase in working capital and higher interest costs on CAPEX loans. Production volume for the quarter improved by 25pc at 24,153 nos. (19,291 nos). For the nine months ended December 2011, sales revenue was higher by 16pc at Rs. 8,470 crores (Rs. 7,289 crores). Net profit was, however, down 7.8pc at Rs. 307 crores (Rs 333 crores). “Despite a substantial improvement in our quarter sales and profits, Q3 was a challenging one due to a few supply chain issues,” said Vinod K. Dasari, Managing Director, Ashok Leyland. “These have since been resolved. STU demand was weaker in Q3 but is expected to bounce back in Q4. The initial feedback from customers for DOST has been very favourable and we are quickly ramping up production to meet the demand,” added. Dasari.

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