Ashok Leyland Q3 profit surges threefold, beats estimates
Ashok Leyland’s net profit came in at Rs450 crore for the quarter ended 31 December, compared with Rs162 crore a year earlier
Bengaluru: Ashok Leyland Ltd reported a near threefold rise in quarterly profit on Thursday, beating analysts’ estimates, helped by higher export volumes and domestic sales of medium and heavy commercial vehicles (M&HCV).
Net profit came in at Rs450 crore ($70.3 million) for the quarter ended 31 December, compared with Rs162 crore a year earlier.
Analysts’ on average expected a profit of Rs407 crore, according to Thomson Reuters data.
Revenue from operations grew 47% to Rs7,113 crore.
Export volumes rose 46% for the quarter, while sales of M&HCV in the domestic market increased 41%. Reuters
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