Ashok Leyland posts multi-fold jump in Q3 PAT to Rs 361 cr on robust sales

Hinduja group flagship Ashok Leyand on Wednesday reported a multi-fold jump in its profit after tax at Rs 361 crore for the third quarter ended December, aided by robust sales.

The company had posted a profit after tax of Rs 6 crore in the October-December quarter of previous fiscal.

Revenues for the quarter stood at Rs 9,030 crore over Rs 5,535 crore in the year-ago period, the company said in a statement.

Ashok Leyland said its domestic Medium and Heavy Commercial Vehicle volume rose to 28,221 units, up 69 per cent, over the same period last year.

The company's domestic LCV volumes for the third quarter rose to 16,405 units, up 15 per cent from 14,233 units a year ago, it added.

"We have been able to achieve growth in market share on a pan India basis together with significant improvement in net profits. Our team continues to pursue better realisations even as we expand our market share. This, along with our continued focus on optimising input costs, has helped us achieve better financial performance," Ashok Leyland Executive Chairman Dheeraj Hinduja said in a statement.

The company remains confident and optimistic about the future as macroeconomic factors continue to be favourable, he added.

"With our robust product portfolio, we are intensifying our global market expansion strategy," Hinduja said.