Ashok Leyland Q3 Results: Net profit jumps 4.5% YoY to ₹796 crore, revenue up 22%

Ashok Leyland, the Indian flagship of the Hinduja Group, announced its December quarter results during market hours on Wednesday, February 11, reporting numbers in line with analysts' estimates.

The truck maker reported a consolidated net profit of ₹796 crore, marking a 4.5% YoY increase over the same period last year, impacted by a one-time charge of ₹308 crore towards the new labour code and higher raw material costs.

The company’s quarterly expenses rose 20.1%, led by a 19.2% increase in raw material costs.

It posted revenue of ₹11,534 crore, marking a 22% increase over the same period last year, while EBITDA came in at ₹1,535 crore, up 27% from ₹1,211 crore in the corresponding quarter of the previous year.

EBITDA margins expanded by 500 basis points year-on-year to 13.3%, extending the streak of double-digit margins to 12 consecutive quarters, according to the company’s earnings filing.

In terms of sales, MHCV wholesale volumes rose 23% year-on-year to 32,929 units in Q3, while LCV volumes increased 30% to 20,518 units. Export volumes also grew 20% to 4,965 units during the quarter, reflecting broad-based growth across segments.

Mr. Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said, “Market conditions continue to be favourable, and we are optimistic that this strength will sustain in the medium term across all our businesses, including MHCV, LCV, and Defence. Our strong and consistent growth in volumes and profitability underscores the competitiveness of our portfolio, which delivers superior performance and customer value, reinforced by deep and effective customer engagement across all segments.”

Ashok Leyland share price trend

The company’s shares have been trending higher since March 2025, closing 8 out of the following 10 months in the positive zone and delivering a massive return of 93%.

This momentum helped the stock finish 2025 with a bumper 62.5% rally, marking its sixth straight annual gain and its biggest yearly surge in a decade.

In today’s session, the stock reached a fresh all-time high of ₹215.2 apiece, taking its year-to-date return to 15.40%.

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