Ashok Leyland Q4 profit falls 12% YoY to Rs 653cr, margin touches 11% again

Revenue from operations grew 0.8 percent to Rs 8,846 crore led by sales volumes, which increased 1.3 percent YoY and 36 percent quarter-on-quarter to 59,523 units

The country's second largest commercial vehicle maker Ashok Leyland has reported a 12.1 percent year-on-year degrowth in Q4 FY19 profit at Rs 653 crore. However, the stock rallied around six percent after margin touched 11 percent from 10 percent earlier.


Revenue from operations grew 0.8 percent to Rs 8,846 crore led by sales volumes, which increased 1.3 percent YoY and 36 percent quarter-on-quarter to 59,523 units.

Sale of the light commercial vehicle rose 8.3 percent, but the same for medium & heavy commercial vehicle fell 0.9 percent. In Q4, its MHCV market share was up 36.9 percent as against 35.1 percent YoY.

"We have grown our market share in both trucks and buses in Q4 and will continue to focus on the twin engines of growth and profitability. We continue to be net cash positive at the year-end with over Rs 700 crore of cash," it's Chief Financial Officer Gopal Mahadevan said.

At the operating level, EBITDA (earnings before interest, tax, depreciation and amortization) dropped 12.5 percent to Rs 985.5 crore and margin contracted 170 bps to 11.1 percent Q4.

Speaking on the road ahead, Dheeraj Hinduja, its Chairman, said: "We are well on our way to successfully introduce Bharat Stage-VI. Together with a range of products planned across the spectrum in FY21, I am confident of maintaining the current growth momentum."

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