The emblem of Ashok Leyland Ltd. File
| Photo Credit: M SUBHASH
Ashok Leyland Ltd reported standalone fourth quarter internet revenue grew 20% to ₹900 crore from ₹751 crore within the 12 months in the past interval.
Revenue from operations of the corporate in the course of the quarter ended March 31, declined 3% to ₹11,266.69 crore from ₹11,625.67 crore in the identical interval final 12 months.
For FY24 the corporate’s internet revenue surged 90% to ₹2,618 crore from ₹1,380 crore within the earlier 12 months. Revenue from operations grew 6% Year on Year to ₹38,367 crore for the total 12 months. The firm mentioned the outcomes have been backed by an all-round efficiency with contributions from all enterprise verticals.
In the M&HCV Bus phase, it mentioned it emerged as market chief with a market share acquire of 5.8% factors. Overall CV volumes at 194,553 models have been very shut to the earlier excessive of 197,366.
LCV volumes within the 2-3.5T class have been maintained regardless of the business witnessing a discount in volumes.
Export volumes for the 12 months grew 5% regardless of difficult circumstances in goal markets. The Power Solutions and Defence Businesses additionally posted “impressive growth,” the corporate mentioned. Dheeraj Hinduja, Chairman, Ashok Leyland Ltd. in a press release mentioned, “We continue to be optimistic about our industry prospects in the short to medium terms backed by anticipated robust growth in the Indian economy.”
“We are confident that we will continue to maintain sustainable and profitable growth year after year through our unwavering pursuit on delivering differentiated products and providing best-in-class customer satisfaction,” he added.
Meanwhile the corporate on Friday introduced the appointment of Ok.M. Balaji as Chief Financial Officer. Gopal Mahadevan, at present CFO and Whole Time Director, will proceed to be related to Ashok Leyland as Director – Strategic Finance and M&A. Mr. Balaji, at present Deputy CFO, will take over the brand new function efficient from 1 June 2024. In his new function, Mr Mahadevan will deal with the expansion agenda of Ashok Leyland’s subsidiary firms in addition to M&A methods.
