Ashok Leyland reported 6.39% fall in consolidated net profit to Rs 509.15 crore in Q1 FY25 as compared with Rs 543.89 crore in Q1 FY24.
Revenue from operations rose 10.66% year on year (YoY) to Rs 10,724.49 crore in the quarter ended June 2024.Profit before exceptional items and tax stood at Rs 760.58 crore in Q4 FY24, up 13.15% from Rs 672.20 crore posted in corresponding quarter previous year.
The firm reported exceptional loss of Rs 4.88 crore during the first quarter of FY25 as against Rs 7.16 crore posted in Q1 FY24.
EBITDA stood at Rs 911 crore in June 2024 quarter, registering the growth of 10.96% as compared with Rs 821 crore in Q1 FY24. During the quarter, EBITDA margin improved to 10.6% as against 10% in Q1 FY24.
Dheeraj Hinduja, chairman, Ashok Leyland, said, Q1 Industry volumes were at comparable levels of the previous peak of Q1 FY19. Ashok Leylands Q1 performance has beaten all expectations, we have been able to post excellent results with focused market performance while reining in costs. Through our Electric Vehicle subsidiary, Switch Mobility, we are geared to participate in the growing EV market with a clear road map. The launch of IeV3 this month, second e-LCV launch by Switch, will further strengthen our position in this market.
Shenu Agarwal, managing director & CEO, Ashok Leyland, added, With expansion in revenues and efficient cost management we have seen our bottom line improving substantially. The non-CV businesses also have grown substantially. While we continue to expand our market penetration on the back of efficient products and network expansion, we shall remain acutely focused on achieving mid-teen EBITDA in the medium term. This is important for us as we continue to focus on investing in technologies of the future.
Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.
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