Q1 revenue for Ashok Leyland sees 47% increase

By NT Bureau Published on Jul 19, 2018 03:07 PM IST

Chennai: The first quarter that ended on 30 June was a performing time for Ashok Leyland. The revenue of the company witnessed a growth of 47 per cent.

Speaking at a meet here yesterday, Ashok Leyland chief financial officer, Gopal Mahadevan said the revenue was at Rs 6,250 crore as compared to Rs 4,258 crore of the same time in the previous year.

He said domestic MHCV volumes saw an enhancement of 60 per cent and PAT (profit after tax) went up by 233 per cent (Rs 370 crore vs Rs 111 crore over quarter one last year.

The company continued to post a robust profit numbers with EBITDA (earnings before interest, tax, depreciation and amortization) at 10.4 per cent for the current quarter as against 7.2 per cent (Rs 648 crore vs Rs 306 crore in Q1 of previous year.

He also informed that MHCV volumes including exports went up by 54 percent by reaching to 30647 numbers.

LCV volumes increased by 33 per cent by reaching 11,481 numbers. We have seen a double digit EBITDA margins for 13 of the 14 sequential quarters.

Their net cash in the balance sheet is Rs 1,165 crore, focus on operating costs, product mix and material cost optimization will continue, even as we pursue growth.

Speaking about the total industry volume he said it registered a growth of 84 per cent, primarily driven by surge in infrastructure spend resulting in higher sale of tippers and MAVs. In a marketĀ  which operated on heavy discounting and credit push.