NE BUSINESS BUREAU
CHENNAI, AUGUST 1
Commercial vehicle maker Ashok Leyland on Thursday reported an 8 per cent decline in total sales at 13,928 units in July 2024 as compared to 15,068 units in the same month last year.
Domestic sales were down 9 per cent at 12,926 units as against 14,207 units in July 2023, Ashok Leyland said in a statement.
Sales of medium and heavy commercial vehicles in the domestic market were at 7,685 units as against 8,974 units in the year-ago period, down 14 per cent, it added.
Light commercial vehicle sales in the domestic market last month were flat at 5,241 units as against 5,233 units in the year-ago period, the company said.
In its quarterly earnings for April-June, the company reported a 8.7% year-on-year in net profit to Rs 525.58 crore for the quarter under review from Rs 576.42 crore reported in the same quarter of the previous fiscal year.
Revenue from operations of the company during the quarter stood at Rs 8,599 crore, marking a 5% YoY increase against Rs 8,189 crore reported in the corresponding quarter of the previous fiscal year.
On the operating front, earnings before the interest, tax, depreciation, and amortisation (EBITDA) during the quarter stood at Rs 912 crore, 11.2% YoY against Rs 820 crore reported in the same quarter. EBITDA margins during the quarter expanded to 10.6% in Q1FY25 against 10% reported in Q1FY24.
