NEW DELHI: Hinduja group flagship Ashok Leyland has reported a healthy 37% year-on-year jump in net profit at Rs 770 crore for the September quarter on higher exports income and better margins while domestic sales fell.
The truck and bus maker said its domestic sales volumes fell in medium and light commercials to 25,685 from 29,947 in the reporting period and to 16,629 from 16,998, respectively. This was more or less offset by the 14% growth in sales margin, offering exports at 3,310 units.
Defence, power solutions and aftermarket units did well and are expected to post good growth in the current fiscal, the Chennai-based company said in a statement on Friday.
Dheeraj Hinduja, chairman, said since the economy is expected to do well in the second half that should benefit our industry. “We remain optimistic about industry prospects for H2 on the back of strong macroeconomic fundamentals, supported by resumption of government spends and good monsoons.