Ashok Leyland Profit Rises 2.3% on Strong Sales, Price Hikes

India’s Ashok Leyland reported a 2.3% increase in first-quarter profit, supported by strong demand for commercial vehicles and price increases that helped offset higher input costs. Profit for the quarter ended June 30 rose to ₹6.09 billion from ₹5.94 billion a year earlier.

Revenue from operations climbed 10.4% to ₹96.34 billion, while input costs increased 8.3% and overall expenses rose 11.4%. Industry retail sales of commercial vehicles grew 13.6% year-on-year to 280,495 units during the June quarter, highlighting continued demand for commercial transportation.

Ashok Leyland’s commercial vehicle market share stood at 17.75% at the end of July, down 120 basis points from a year earlier, while Tata Motors remained the market leader with a 34.85% share. Separately, Ashok Leyland approved a £25 million investment in British bus maker Optare Plc, expanding its international business interests.

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