Ashok Leyland Posts Record Quarterly Profit, Revenue
Ashok Leyland Posts Record Quarterly Profit, Revenue
India's Ashok Leyland reported its highest ever quarterly profit on Thursday, driven by strong demand for commercial vehicles. The Hinduja Group flagship posted a standalone profit of 14.05 billion rupees ($146.8 million) for the three months ended March 31, up 13% from 12.46 billion rupees a year ago.
Revenue Hits Record High
Revenue from operations jumped about 19% to a record 141.6 billion rupees in the fourth quarter. Auto sector demand, including for commercial vehicles, remained strong, supported by tax cuts implemented last year.
Cost Pressures and War Impact
Analysts warned of margin pressures due to increased input costs amid the ongoing U.S.-Iran war. Ashok Leyland's input costs soared 29%, driving up total expenses by 19%.
Chairman Dheeraj Hinduja said, "Our CV and export volumes were at an all-time high... the company delivered significant growth in power solutions, aftermarket and electric mobility businesses."
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