Ashok Leyland September Quarter Results: Hinduja Group company Ashok Leyland’s consolidated net profit in the second quarter July-September of the current financial year 2024-25 increased by 34.64 percent on an annual basis to Rs 766.55 crore. The company’s net profit in the July-September quarter of the financial year 2023-24 was Rs 569.31 crore. Ashok Leyland said in a statement on November 8 that its consolidated total income increased to Rs 11,261.84 crore in the September 2024 quarter from Rs 11,463.03 crore a year ago.
Ashok Leyland’s EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) in the July-September quarter stood at Rs 1,017 crore, a growth of 11.6 percent. In the September 2023 quarter, it stood at Rs 1,080 crore with 11.2 percent growth. The company said it has more than 31 percent market share in the domestic medium and heavy commercial vehicle segment.
Focus remains on continuous profitability
Shenu Agarwal, Managing Director and CEO, Ashok Leyland, said, “We are continuously focusing on profitability. We are improving our profitability by making our products premium, capitalizing on cost reduction opportunities and improving our customer service standards. Our EBITDA margin has improved on both a quarterly and annual basis. This is the 7th consecutive quarter when the company has recorded double digit EBITDA.
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Record date for dividend 19 November
The board of Ashok Leyland has recommended an interim dividend of Rs 2 per share of face value Rs 1 for the financial year 2024-25. The record date for this is 19 November 2024. Shareholders whose names appear in the Register of Members of the Company or the records of the depositories as beneficial owners of shares as on this date will be entitled to receive the dividend. The company will pay the interim dividend on or before December 7, 2024. Ashok Leyland shares are up 3 percent on November 8. The share is at Rs 222 on BSE.
The company’s sales in the light commercial vehicle segment in the September 2024 quarter stood at 16,629 units, compared to 16,998 units a year ago. Meanwhile, overseas sales increased by 14 percent to 3,310 units. Ashok Leyland has expanded its offering across tipper, bus, haulage and light commercial vehicle segments in the July-September 2024 quarter.
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