Revenue spurts by 54 per cent
Ashok Leyland registered healthy growth for the second quarter and the first half-year of FY 2015-16. Revenues increased 53.5 per cent to Rs. 4,940 crores against Rs. 3,218 crores in the same period last year. Net profit stood at Rs. 287 crores against Rs. 121 crores, and EBITDA was Rs. 594 crores, constituting 12 per cent of total revenue, against Rs. 229 crores, marking 7.1 per cent of total revenue for the same period last year.
Medium and heavy commercial vehicles sales stood at 29,884 units (18,207 units), of which the volume of light commercial vehicles (LCVs) was 7,497 units (7,172 units).
The company revenue for the first half of 2015-16 increased 54 per cent to Rs. 8,781 crores, against Rs. 5,695 crores for the same period last year. Net profit stood at Rs. 446 crores against Rs. 73 crores for the same period last year. EBITDA was Rs. 983 crores (11.2 per cent of total revenue), against Rs. 329 crores (5.8 per cent of total revenue) for the same period last year. Sales volume in medium and heavy commercial vehicles (M&HCV) stood at 51,337 units (33,115 units), while the volume of LCVs was 14,198 units (12,204 units).
Speaking on the results, Mr. Vinod K. Dasari, Managing Director, Ashok Leyland, said: “The market for commercial vehicles is back after a long period of downturn. Our brand commitment of ‘Aapki Jeet, Hamari Jeet’, or ‘In your success lies our success’ ensures that we are always customer focused – from product design to network growth, and service capability. This relentless focus on customer profitability is the primary reason behind the good results. A continued focus on cost control and reigning-in of discounts also helped”.