Ashok Leyland swings into net profit of Rs 159 cr in Q1

The company incurred net loss of Rs 48 cr in year-ago period

Commercial vehicle maker Ashok Leyland posted a net profit of Rs 159 crore during the April-June period against  a net loss of Rs 48 crore for the same period last year.

The total income from operations stood at Rs 3,841.21 crore during the quarter, as against Rs 2,477.80 crore posted during the corresponding quarter of previous fiscal year, an increase of 55 per cent.

The company said that its growth was at 45 per cent in the Medium and Heavy Commercial Vehicle industry, much higher than the volume growth of industry, which was at 23 per cent. During the first quarter, the company sold 14,706 trucks and 3,894 buses.

 

Vinod K Dasari, managing director, Ashok Leyland Ltd has said: "Our investments in many new products and continued strict discipline on costs have helped boost results. Overall buoyancy in the economy and strong prospect of market recovery bode well for the industry, and we seem well placed to apitalise on this growth."

He said that the company's market share grew, which is a reflection of the company's focus on profitability of its customers and channel partners.