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Ashok Leyland has reported a net profit of ₹ 450 crore for the quarter ended December 31, 2017 when compared with ₹ 162 crore in a year-ago period, on the back of strong operating performance on account of robust vehicle sales. Its revenues grew 58 per cent at ₹ 7,113 crore when compared with ₹ 4,516 crore in the year-ago period.
Q3 of last fiscal saw an impact on the bottomline to due demonetisation and mark-to-market losses when compared with the earlier period.
Its EBITDA (earnings before interest, tax and depreciation) for Q3 of this fiscal stood at ₹ 788 crore as against ₹ 454 crore.
Sales of medium and heavy commercial vehicles in the domestic market grew 41 per cent, while light commercial vehicle sales were up 45 per cent at 10,926 units. Exports grew 46 per cent at 4289 units.
“Our working capital position continues to be very healthy and our focus on cost would continue,” said Gopal Mahadevan, Chief Financial Officer, Ashok Leyland Ltd.
For the nine-month period ended December 31, 2017, net profit stood at ₹ 895 crore as against ₹ 747 crore in the same period last year. Its revenue grew 30 per cent to ₹ 17,398 crore from ₹ 13,401 crore.
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