Ashok Leyland on Friday reported a 12.1 percent year-on-year (YoY) drop in net profit at Rs 653 crore for the fourth quarter ended March 2019.
Hinduja Group flagship company Ashok Leyland on Friday reported a 12.1 percent year-on-year (YoY) drop in net profit at Rs 653 crore for the fourth quarter ended March 2019.
In the corresponding quarter last year, the company posted a net profit of Rs 743 crore. CNBC-TV18 Polls had predicted a profit of Rs 700 crore for the quarter under review.
Its revenue from operations grew 0.8 percent to Rs 8,846 crore against Rs 8,780 crore that the company posted last year. The company posted a 10.8 percent EBITDA margin for FY19.
The domestic MHCV (medium and heavy commercial vehicle) industry volume in Q4 de-grew by 4 percent for FY2018-19 to 1,12,469 numbers (as per SIAM). Ashok Leyland volumes grew by 1 percent to 41,519 numbers in the domestic market. Q4 MHCV market share was up at 36.9 percent as against 35.1 percent last year.
The board has recommended a 310 percent dividend for FY19 viz., Rs 3.10 per share subject to approval by the shareholders in annual general meeting.
Dheeraj Hinduja, chairman, Ashok Leyland, said, "I am pleased that we have been able to maintain our market share despite competitive pressures and be profitable in the face of rising costs of input materials and regulatory changes. Our LCV programme continues its winning streak."
Shares of Ashok Leyland ended at Rs 94.35, up Rs 5.55, or 6.25 percent on the BSE.
First Published: IST