Ashok Leyland has posted its highest-ever Q3 results, driven by a strong focus on profitability and market expansion. The company reported a net profit of INR 762 crore, marking a 31% increase compared to the same period last year.
The company's EBITDA for Q3 FY25 reached an all-time high of INR 1,211 crore (12.8%), continuing its streak of double-digit EBITDA for the eighth consecutive quarter. Revenues also hit a record INR 9,479 crore, surpassing INR 9,273 crore in Q3 FY24. Additionally, Ashok Leyland achieved a significant milestone by turning cash-positive at the end of the quarter, reporting a net cash of INR 958 crore compared to a net debt of INR 1,747 crore at the end of Q3 FY24.
Exports surged by 33%, with 4,151 units shipped in Q3 FY25 against 3,128 units in the same period last year. The company’s domestic market share in the Medium and Heavy Commercial Vehicle (MHCV) segment remains above 30%, with continued leadership in the bus segment.
Executive Chairman Dheeraj Hinduja credited the company's success to strong product performance and customer engagement. “International sales are showing strong growth, and we expect this momentum to accelerate with new product launches. We are also investing in battery electric and alternative fuel technologies to maintain our leadership position. Switch has a robust order book and plans to introduce multiple products in the next 12 months,” he said.
Managing Director & CEO Shenu Agarwal highlighted the market revival in Q3 and projected further improvement in Q4. “Our focus remains on profitable growth through product premiumization, cost leadership, better service reach, and enhanced value-added services. The performance of our non-CV businesses has been strong, providing additional growth opportunities. With favorable macroeconomic factors, we remain optimistic about the long-term growth of the commercial vehicle industry,” he stated.
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