Ashok Leyland profit shrinks by 45%; market share grows in MHCV segment

The revenue of the company dropped by 9% to Rs 5,684 crore from Rs 6,263 crore YoY

Ashok Leyland's profit dropped by 45 per cent to Rs 230 crore in Q1FY20 from Rs 421.63 crore reported in the corresponding quarter of the last year. However, the company's market share grew by four per cent to 34.1 per cent in the medium and heavy commercial vehicle (MHCV) segment during the quarter.

The revenue of the company dropped by nine per cent to Rs 5,684 crore from Rs 6,263 crore year-on-year. 

The company's EBITDA came in at 9.4 per cent despite the decline in revenue.

Dheerja G Hinduja, chairman, Ashok Leyland, said that the industry witnessed a 17 per