 "Ashok Leyland hits record high post Q1 results")
Shares of Ashok Leyland, manufacturer of medium and heavy commercial vehicles, touched a record high of Rs 90 on the BSE in early trade after the company reported net profit of Rs 159 crore in June 2015 quarter (Q1) against a loss of Rs 48 crore in a year ago quarter.
The company said investments in many new products, and continued strict discipline on costs have helped boosts results.
During the quarter, earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved by 600 basis points to 10.13% from 4.08% in the previous year quarter.
Revenue for the quarter increased by 55% at Rs 3,841 crore against Rs 2,478 crore in the corresponding quarter of previous fiscal.
In Q1 Ashok Leyland sold 14,706 trucks and 3,894 buses, it added.
At 10:02 AM, the stock was up 1% at Rs 89 on the BSE. A combined 7.5 million shares changed hands on the counter on the BSE and NSE.
In past one month, the stock rallied 22% as compared to 1% decline in the S&P BSE Sensex.
The company said investments in many new products, and continued strict discipline on costs have helped boosts results.
During the quarter, earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved by 600 basis points to 10.13% from 4.08% in the previous year quarter.
Revenue for the quarter increased by 55% at Rs 3,841 crore against Rs 2,478 crore in the corresponding quarter of previous fiscal.
In Q1 Ashok Leyland sold 14,706 trucks and 3,894 buses, it added.
At 10:02 AM, the stock was up 1% at Rs 89 on the BSE. A combined 7.5 million shares changed hands on the counter on the BSE and NSE.
In past one month, the stock rallied 22% as compared to 1% decline in the S&P BSE Sensex.