Ashok Leyland shares rally nearly 8% after Q4 earnings

Shares of Ashok Leyland on Monday rallied nearly 8 per cent after the company reported a 16.73 per cent increase in consolidated net profit to Rs 933.69 crore in the March quarter.

The stock jumped 7.69 per cent and ended at Rs 226.75 on the BSE. During the day, it climbed 8.59 per cent to the 52-week high of Rs 228.65.

At the NSE, it zoomed 7.78 per cent to Rs 227.10.

The company added Rs 4,756.85 crore taking its market valuation to Rs 66,581.22 crore.

The company had posted a net profit of Rs 799.87 crore in the same period of the previous fiscal, Ashok Leyland said in a regulatory filing on Friday.

Consolidated revenue from operations in the quarter under review stood at Rs 13,577.58 crore as compared to Rs 13,202.55 crore in the year-ago period, it added.

Total expenses in the fourth quarter were marginally lower at Rs 12,037.16 crore as compared to Rs 12,085.5 crore in the corresponding period of the previous year.

For the fiscal ended March 31, 2024, net profit was at Rs 2,696.34 crore as compared to Rs 1,358.82 crore in the previous fiscal.

In FY24, consolidated revenue from operations was at Rs 45,790.64 crore as compared to Rs 41,672.6 crore in FY23, the company said.