Ashok Leyland Q4 net profit slips 17% to ₹751 cr.
The Hindu
ALL Q4 profit drops 17%
Ashok Leyland Ltd., (ALL) reported a 17% decline in fourth-quarter standalone net profit to ₹751 crore.
“Q4 of FY22 witnessed one-off exceptional gain of ₹468 crore,” CFO Gopal Mahadevan said explaining the fall in profit. “Normalised net profit would be ₹433 crore... so, the current year net profit is higher by 73%,” he contended.
“We have done well on all fronts. Better performance is due to increase in revenue and consequent improvement in EBITDA margins. ALL recorded highest-ever revenue of ₹36,144 crore for FY23,” Mr. Mahadevan said.
He also said that ALL generated cash of ₹963 crore and ended with a net cash surplus of ₹243 crore against net debt of ₹720 crore. For FY24, the company would be incurring a capex of ₹600-750 crore for capacity augmentation.
During Q4, revenue from operations rose to ₹11,626 crore, from ₹8,744 crore, and cost of materials increased by 26% to ₹8,080 crore, the commercial vehicle manufacturer said in a regulatory filing.
The board recommended a dividend of ₹2.60 per share.
ALL’s truck market share improved to 32.7 % from 30.6%. Bus market share was up marginally at 27.1% (26.4%). Domestic light commercial vehicle (LCV) vehicle volume grew by 18% to 18,840 units, said MD & CEO Shenu Agarwal.
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