Ashok Leyland Q1 profit at Rs 68 cr Q1 on strong volumes vs year-ago loss

The company is planning to invest Rs 750 crore in each of the next two years and is in the final round of talks to raise funds for its EV arm Switch Mobility

Ashok Leyland, the flagship company of the Hinduja Group, posted a net profit of Rs 68 crore during the first quarter of financial year 2022-23, pushed by strong volume growth. The firm had incurred a loss of Rs 282 crore during the April-June quarter of the previous financial year,  

The company said it is planning to invest Rs 750 crore in each of the next two years, and is in the final round of talks to raise funds for its electric vehicle arm, Switch Mobility. Ashok Leyland’s chief financial officer Gopal Mahadevan told Business Standard that a deal is