Commercial vehicles maker Ashok Leyland reported a 747% (YoY) jump in its standalone net profit to Rs 576.42 crore in the June quarter. During the same period last year, the Hinduja Group posted a net profit of Rs. 68.05 crore.

The company’s revenue from operations shines 13.39% to Rs 8,151.96 from Rs. 7,189.2 crore in Q1FY2023.

With the industry growing in Q1FY24, the firm tried to post excellent results with constant market performance while reining costs. We are pleased that we have continued to grow our market share in Q1.

The company’s other quarterly income increased to Rs 37.3 crore from Rs 33.5 crore last year. Its total income rose 13.4% YoY to Rs 8,189.3 crore for the June quarter versus Rs 7,222.8 crore in the previous year.

Ashok Leyland’s operational performance was also developed as its EBITDA more than doubled to Rs 820.8 crore from Rs 320.2 crore in the YoY quarter. Net Debt to Equity rose 0.2 times at the end of Q1FY24.