Ashok Leyland posts a profit in Q3

In Q3FY22,  MHCV domestic truck and bus volumes have grown at almost twice that of industry at 39 percent compared to the total industry vehicle  growth of 20 percent. 

Autocar Professional BureauBy Autocar Professional Bureau calendar 12 Feb 2022 Views icon6496 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ashok Leyland posts a profit in Q3

Ashok Leyland posted a Rs 6 crore net profit in Q3 against a net loss of Rs 19 crore in Q3 FY21 and against a loss of Rs 83 crore in Q2 FY22. The company also reported a 15 percent increase in YoY quarter revenues that stood at Rs 5,535 crore as against Rs 4,814 crore in Q3 FY21. 

The company's domestic MHCV volumes grew by 15  percent  at 16,667 units against 14,468 units over the same period last year. LCV volumes were a tad down at 14,233 units as against 15,991 units. The company said the decline in numbers was due to the semiconductor shortage. 

In Q3FY22,  MHCV domestic truck and bus volumes have grown at almost twice that of industry at 39 percent compared to the total industry vehicle  growth of 20 percent. 

Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said, “The CV industry is on a recovery owing to the improvement in the macroeconomic environment and healthy demand. The MHCV segment is expected to lead the recovery in the coming months riding on the back of growth in core sectors such as construction and mining, increased capital outlay for infrastructure projects, conducive financing environment and pent up replacement demand.”

Gopal Mahadevan, Director & CFO, Ashok Leyland, added, “The higher volumes and our cost management initiatives have helped us improve our bottom line. We have generated close to Rs 300 crore in cash this quarter owing to improved working capital, and we will continue to focus on driving operational efficiency.”

CNG and EV

Ashok Leyland has recently introduced the Ecomet STAR on the CNG platform. The company plans to launch more vehicles in Q4 of the current year as part its CNG range. Also, the electric vehicle business under Switch Mobility continues to expand and grow.  In Q3, Switch won an order for 300 electric buses from Bangalore Metropolitan Transport Corporation. The company had also commenced the supply of electric buses to the  Chandigarh Transport Undertaking.

 

RELATED ARTICLES
Bajaj Auto launches new Chetak 3503 at Rs 110,000

auther Autocar Professional Bureau calendar29 Apr 2025

The Chetak 3503, with a claimed range of 155km, 63kph top speed and a slower charging time than its 35 Series siblings, ...

Hyundai walks the eco talk with biogas plant, material recovery plant in Gurugram

auther Autocar Professional Bureau calendar22 Apr 2025

Operational since October 2022, the facility targets sustainable waste management in Gurugram by undertaking scientific ...

Rajiv Bajaj reappointed MD and CEO of Bajaj Auto for five-year term

auther Autocar India calendar19 Mar 2025

Bajaj Auto’s Board of Directors has approved the re-appointment of Rajiv Bajaj as the company’s MD and CEO for another f...