Shares of commercial vehicle major Ashok Leyland were trading 2.15% higher at Rs 175.35 on Monday after the Chennai-based automaker reported a 2% year-on-year (YoY) rise in consolidated net profit to Rs 668 crore for the quarter ended June, compared with Rs 658 crore in the year-ago period.
Consolidated revenue increased 10% to Rs 10,750 crore during the quarter under review. On a standalone basis, the company posted its highest-ever net profit of Rs 609 crore, up from Rs 594 crore in the year-ago quarter. However, the EBITDA margin declined to 10.1% from 11.1% in the same period last year, due to rising material costs.
