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“We wish to inform you that, the Company has bagged an order for supplying 1475 BSVI Diesel Fuel Type Passenger Bus Chassis to Tamil Nadu State Transport Corporation,” Ashok Leyland said in a regulatory filing.
The order, secured through a standard tendering process, requires Ashok Leyland to deliver the chassis between December 2024 and May 2025. The company confirmed that the contract adheres to normal business terms without any adverse conditions.
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Further, Ashok Leyland announced the voluntary liquidation of its step-down subsidiary, LLC Ashok Leyland Russia. LLC Ashok Leyland Russia, which was not classified as a material subsidiary, has ceased to exist following the completion of the liquidation process.
Ashok Leyland’s bottom line rose 37% year-on-year to ₹770 crore, compared to ₹561 crore in the corresponding period of last year. The profit figure was also higher than CNBC-TV18’s poll of ₹561 crore.
However, the top line declined by 9% year-on-year to ₹8769 crore but was higher than CNBC-TV18’s poll of ₹8,764 crore. The company posted a revenue of ₹9638 crore in the same period a year ago.
Also Read: Ashok Leyland gets multiple target price cuts after Q2 results despite record profit
Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 5.8% on-year at ₹1,017 crore and was also above Street estimates of ₹954 crore. The operating margin rose 40 basis points on-year to 11.6% from 11.2%, while the Street expected it at 10.9%.
Shares of Ashok Leyland Ltd ended at ₹229.85, down by ₹1.20, or 0.52% on the BSE.
