Commercial vehicle manufacturer Ashok Leyland Ltd. has posted 37.49% raise in its stand-alone net profit for the second quarter ended September 2018 at ₹459.58 crore against ₹334.26 crore recorded for the corresponding year-earlier period due to increase in prices, cost control measures, product mix and growth in revenue.
During the period under review, the company posted revenue at ₹7,607.98 crore against ₹6,076.38, an increase of 25%.
“The growth in top-line has helped in our financial performance. While input cost increases continue, we are attempting to neutralise this effect through efficient cost management. We continue to be zero debt as at the end of the quarter,” said Gopal Mahadevan, CFO.
Briefing media, Vinod K. Dasari, CEO & MD, said in the last three years, the firm had won 31 defence tenders that translated into value of about ₹5,000 crore. On the progress of work on the new assembly plant in A.P., he said the plant was ready. The firm will roll out electric vehicles by January 2019.