Ashok Leyland Reported A Net Business of Rs 68 Crore in The First Quarter

Commercial vehicle company Ashok Leyland Limited closed in the first quarter of FY 2023 with an after tax profit of Rs 68 crore.

According to the company, it had posted a revenue of Rs 7,223 crore and a net profit of Rs 68 crore (net loss Rs 282 crore) for the quarter ended 30.6.2222 (Rs 2,951 crore in the first quarter of 2022).

Executive Chairman Dheeraj Hinduja said, “The industry has witnessed strong growth in Q1 FY23, and we expect this trend to continue. The team will focus on market performance this quarter while reining in costs. has been.”

Director and CFO Gopal Mahadevan said, “We have seen an improvement in our bottom line with revenue expansion and efficient cost management. Moderation in commodity prices, especially for steel, should positively impact our margins. “

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