Ashok Leyland posts revenue of Rs 29,055 crore, profit up 15 pc

Ashok Leyland, a flagship company of the Hinduja Group, on Friday reported a revenue of Rs 29,055 crore and a net profit of Rs 1,983 crore for the financial year 2018-19.

In 2017-18, the revenue was Rs 26,356 crore while the profit was Rs 1,717 crore. The company posted a 10.8 per cent earnings before interest, tax, depreciation and amortisation (EBITDA) margin for FY 19.

The domestic medium and heavy vehicles industry volume in Q4 de-grew by 4 per cent for FY 2018-19 to 112,469 numbers. But Ashok Leyland volumes grew by 1 per cent to 41,519 units in the domestic market.

The Q4 medium and heavy vehicles market share was up at 36.9 per cent as against 35.1 per cent last year.

In FY 19, the company's total medium and heavy vehicle volumes including exports increased by 9 per cent to 142,858 numbers while Volume for light commercial vehicles increased by 25 per cent to 54,508.

"I am pleased that we have been able to maintain our market share despite competitive pressures and be profitable in the face of rising costs of input materials and regulatory changes," said Ashok Leyland's Chairman Dheeraj Hinduja.

The board of directors has recommended a 310 per cent dividend for FY 19, that is Rs 3.10 per share.

Ashok Leyland's Chief Financial Officer Gopal Mahadevan said: "We have grown our market share in both trucks and buses in the fourth quarter, and will continue to focus on the twin engines of growth and profitability. We continue to be net cash positive at the year-end with over Rs 700 crore of cash."

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