Ashok Leyland bags Rs 346 crore order from TNSTC

Ashok Leyland has announced that it has received an order worth Rs 345.58 crore from the Tamil Nadu State Transport Corporation (TNSTC) for the supply of 1,475 BSVI Diesel Fuel Type Passenger Bus Chassis.

The company stated in an exchange filing that the order was awarded following a standard tender process, with prudent business norms, terms and conditions. It also confirmed that there are no adverse terms or conditions under the contract.

The order will be executed between December 2024 and May 2025.

In another development, Ashok Leyland has announced the voluntary liquidation of its step-down subsidiary, LLC Ashok Leyland Russia. Following the completion of the liquidation process, LLC Ashok Leyland Russia is no longer a subsidiary of the company.

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings

The companys consolidated net profit jump 34.14% to Rs 705.64 crore in Q2 FY25 as against Rs 526.01 crore posted in Q2 FY24. Revenue from operations declined 2.35% to Rs 11,147.58 crore posted in the second quarter of FY25 as against Rs 11,416.66 crore posted in Q2 FY24.

The scrip shed 0.35% to Rs 229.05 on the BSE.

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