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Ashok Leyland Q4 profit zooms to Rs 901.4 crore on AVTR range

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Ashok Leyland Q4 profit zooms to Rs 901.4 crore on AVTR range

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Total income stood at Rs 8,744.3 crore during the period under review, 24.9 percent against Rs 7,000.5 crore in the corresponding period of the preceding fiscal.

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Hinduja flagship firm Ashok Leyland Ltd on Thursday reported a 274 percent year-on-year (YoY) jump in net profit at Rs 901.4 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 241.2 crore. CNBC-TV18 Polls had predicted a profit of Rs 252 crore for the quarter under review.
Total income stood at Rs 8,744.3 crore during the period under review, 24.9 percent against Rs 7,000.5 crore in the corresponding period of the preceding fiscal.
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Revenue for the full year was at Rs 21,688 crore as against Rs 15,301 crore over the same period last year. PBT was Rs 528 crore as against a loss before tax of Rs 412 crore last year. PAT was at Rs 542 crore as against a loss after tax of Rs 314 crore last year.
The full-year EBITDA was at 4.6 percent as against 3.5 percent last year. Cash generated during the year was Rs 1,888 crore; the Debt net of cash is at Rs 720 crore. For the fourth-quarter EBITDA was at 8.9 percent as against 7.6 percent last year.
Ashok Leyland's truck market share for Q4 FY'22 has improved to 30.6 percent against 28.9 percent in Q4 FY'21, this is the highest market share seen in the last 11 quarters.
Despite the pandemic situation, Q4 MHCV & LCV exports stood at 4,173 and have grown by 32 percent over 44 last year (3,164). On a full-year basis, export volumes stood at 11,014 and is higher than last year (8,001) by 38 percent.
Dheeraj Hinduja, executive chairman, Ashok Leyland Ltd said, "We have seen a recovery in Q4 FY'22 and the overall performance has been very good. The CV industry is on a recovery owing to the improvement in the macroeconomic environment and healthy demand from the end-user industries."
"The MHCV segment is leading the recovery riding on the back of growth in core sectors such as construction & mining, agriculture, the increased capital outlay for infrastructure projects and pent-up replacement demand. The performance of our 856 products have been very good and the introduction of CNG products has helped us regain our market share," he added.
The Directors have recommended a 100 percent dividend of Rs 11 per equity share of Re 1 each for the financial year ended March 31, 2022. The results came after the close of the market hours. Shares of Ashok Leyland ended at Rs 122.90, down by Rs 3.50, or 2.77 percent on the BSE.
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