Ashok Leyland posts consolidated Q2 net at Rs 766.55 cr

PTI Chennai: Hinduja Group flagship Ashok Leyland announced on Friday a consolidated profit of Rs 766.55 crore for the July- September 2024 quarter. The city-based heavy commercial vehicle maker had registered a consolidated profit of Rs 550.65 crore during the corresponding quarter of the previous financial year. The consolidated total income during the quarter rose to Rs 11,261.84 crore, up from Rs 10,754.43 crore in the yearago period. In a statement on Friday, the company said it maintains over 31% market share in the domestic medium and heavy commercial vehicle segment. "Our focus on profitability continues. We are pleased to have improved our profitability by premiumising our products, addressing cost-reduction opportunities, and continuously enhancing our customer service standards," said managing director and CEO Shenu Agarwal. "Our PAT (profit after tax) for Q2FY is at an all-time high.

Our EBITDA (earnings before interest, taxes, depreciation, and amortization) margins have improved both sequentially and year-on-year, marking this the seventh consecutive quarter of double-digit EBITDA. We are on track to achieve mid-teen EBITDA in the medium term," Agarwal added. Ashok Leyland recorded an 11.6% rise in EBITDA for the July-September 2024 quarter at Rs 1,017 crore, compared to 11.2% (Rs 1,080 crore) in the corresponding quarter of the previous financial year.