The Indian biggest commercial vehicle leader, Ashok Leyland has announced its Q1 sales reports and reported that its net profit increased to Rs. 290.78 crore in the period of April to June. It represented a growth of 101 percent compared to the year ago quarter net profit, Rs. 144.5 crore. The revenue in the first quarter of FY 2017 stood at Rs 4258.8 crore and increased by 10 percent against the revenue in the Q1 of FY 16, 3883.13 crores.
The M&HCV (medium and commercial vehicle) segment, including trucks, buses, 6-tonne vehicles, and tippers, has achieved total sales of 22,061 units in the first quarter ended on June 30, 2016. It was the record braking achievement from Ashok Leyland. Just a few days back, the company received orders of around 3600 buses from the various STUs and the deliveries to be commenced during the year.
Similarly, the light commercial vehicle segment reported 7 percent growth in the first quarter against previous year results. Domestic sales were good in the first quarter, but the export market is down so that Ashok Leyland reported 18.5 percent domestic volume growth than the 14.5 percent industry growth, according to the company’s managing director, Vinod K Dasari.
The company will continue the operational efficiency, network development, launch of new products and talent development to achieve the best results. We at the company expected the positive export market will be back in the second quarter, according to him.