Ashok Leyland announced a substantial drop in standalone net profit for the quarter ended June 2017. During the quarter, the profit of the company declined 61.75% to Rs 1,112.35 million from Rs 2,907.84 million in the same quarter last year.

 

Revenues for the quarter declined marginally 0.37% to Rs 45,528 million, compared with Rs 45,698 million for the prior year period.

 

 

Earnings per share for the quarter stood at Rs 0.38, registering 62.75% decline over previous year period.

 

Vinod K. Dasari, Managing Director, Ashok Leyland said, 'It has been a very satisfying quarter. Despite all the challenges, our robust market share growth exemplifies the technological leadership of Ashok Leyland. Our recently launched iEGR technology for BS-IV has been well accepted by customers and we are ramping up capacity to cater to the growing demand. This technology is by far the best solution for Indian conditions.'

 

Gopal Mahadevan, CFO, Ashok Leyland added, 'Our Financial performance continues to be robust. The best part about Ashok Leyland's initiatives is the strong customer focus even as we drive financial performance. Debt / Equity for the quarter was 0.3:1.'

 

 

 

                                             

Quarterly Results - Standalone (Rs in mn)
As at	Jun - 17	Jun - 16	%Change
Revenues	45,528.00	45,698.00	(0.37)
Net Profit	1,112.35	2,907.84	(61.75)
Diluted EPS	0.38	1.02	(62.75)

 

Shares of the company declined Rs 4.55, or 4.29%, to trade at Rs 101.40. The total volume of shares traded was 1,986,047 at the BSE (1.26 p.m., Friday).