Ashok Leyland Shares Wobbly After Profit Dips 9% In June Quarter

Ashok Leyland‘s share price was wobbly on Thursday afternoon after the company posted its earnings for the quarter ended June.

What Happened: On a standalone basis, the company’s total revenue stood at ₹8,599 crore, up 5% from the ₹8,189 crore posted in the same quarter last year. Profit stood at ₹526 crore, compared to the ₹576 crore posted in the same quarter of the previous year.

The auto manufacturer’s consolidated profit for the June quarter came in at ₹550 crore, down around 6% from the ₹584 crore posted in the same quarter last year. The Hinduja Group’s flagship company reported a 10.6% jump in revenue to ₹10,681 crore compared to the ₹9,651 crore posted in the corresponding quarter of the previous year.

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The company registered the highest-ever commercial vehicle volumes of 43,893 units during the June quarter.

“The company continued to see strong demand in all its business units. While the company achieved its highest-ever Q1 CV volumes, the power solutions, aftermarket, defence business and international operations also contributed strongly to the top line,” the company said in a press release.

Price Action: Ashok Leyland’s share price was down 0.16% to trade at ₹232.12 shortly after the announcement.

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