Ashok Leyland has reported an over five-fold soar in consolidated web revenue in This fall.
New Delhi:
Commercial automobiles maker Ashok Leyland right this moment reported an over five-fold soar in consolidated web revenue at Rs 802.71 crore for the fourth quarter ended March 31, 2023 using on strong gross sales.
The firm had posted a consolidated web revenue of Rs 157.85 crore for a similar quarter earlier fiscal, Ashok Leyland mentioned in a regulatory submitting.
Revenue from operations in the course of the quarter beneath evaluate stood at Rs 13,202.55 crore as in opposition to Rs 9,926.97 crore within the year-ago interval, it added.
Total bills within the quarter stood at Rs 12,085.5 crore as in opposition to Rs 9,429.55 crore earlier.
For fiscal 12 months ended March 31, 2023 consolidated web revenue was at Rs 1,361.66 crore. The firm had posted a web lack of Rs 285.45 crore in FY22.
Revenue from operations in FY23 stood at Rs 41,672.6 crore as in comparison with Rs 26,237.15 crore in FY22.
“The industrial automobiles (CV) business is buoyant attributable to beneficial macroeconomic elements and a wholesome demand from the end-user industries,” Ashok Leyland Executive Chairman Dheeraj Hinduja mentioned.
He additional mentioned,”This development is predicted to proceed alongside development in core sectors resembling building and mining, agriculture, elevated capital outlay for infrastructure initiatives and pent-up alternative demand.” Mr Hinduja mentioned the give attention to worldwide operations, defence, energy options and components companies will proceed to steadiness the volatility of the core enterprise.
“With momentum progressively choosing up in electrical automobiles, Switch Mobility is nicely poised to enrich the developments at Ashok Leyland throughout a spectrum of alternate propulsion methods,” he added.
The firm additional mentioned its board of administrators has advisable a dividend of Rs 2.60 per fairness share of Re 1 every for 2022-23, topic to shareholders’ approval.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)