Ashok Leyland rises after bagging Rs 981 crore bus supply contract from MSRTC

Ashok Leyland gained 1.20% to Rs 227.10 after the company announced that it has bagged single largest fully built bus order from the Maharashtra State Road Transport Corporation (MSRTC) for 2,104 units of Viking passenger bus.

Maharashtra State Road Transport Corporation (MSRTC) is one of the largest state transport undertakings in the country with over 15,000 buses.

With this order, Ashok Leyland buses will dominate its fleet. The BSVI OBD-II diesel fuel type fully-built passenger buses for this order will be manufactured at Ashok Leylands exclusive bus body plants. They would offer enhanced safety and a lower total cost of ownership for MSRTC. The total value of this contract is Rs 981.45 crore.

Shenu Agarwal, managing director & CEO, Ashok Leyland, said: We are excited to continue our long-standing partnership with the Maharashtra State Road Transport Corporation (MSRTC).

This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country. Our deep understanding of our customers and our ability to quickly respond to their needs is what sets us apart.

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 company had reported 19.82% jump in standalone net profit to Rs 900.41 crore in Q4 FY24 as compared with Rs 751.41 crore in Q4 FY23. Revenue from operations fell 3.08% to Rs 11,266.69 crore in Q4 FY24 as compared with Rs 11,625.67 crore posted in corresponding quarter last year.

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