Q1FY19 Results: Ashok Leyland posts strong quarter

Ashok Leyland reported robust result in the first quarter of FY19 with strong volumes in both MHCV and LCV segments. The export market also witnessed strong demand which led to 24 per cent increase in export

The revenue for the quarter rose by 37.8 per cent yoy to Rs. 6,250 crore in Q1FY19 vs Rs. 4,534 crore in Q1FY18. This was largely led by 60 per cent yoy increase in MHCV volumes and 33 per cent yoy increase in LCV volumes.

The EBITDA for the quarter also more than doubled to Rs. 647 crore in Q1FY19 vs Rs. 306 crore in the same period the previous year. The EBITDA margins for the quarter also expanded by 360 bps yoy to 10.4 per cent vs 6.7 per cent in the previous year's corresponding quarter.

The net profit for the quarter rose thrice to Rs. 370 crore in Q1FY19 vs Rs. 111 crore in Q1FY18. This was largely aided by declining finance costs over the quarters. The interest cost came down to Rs. 11 crore vs Rs. 36 crore in the same period the previous year.

The stock is  closed 2.19 per cent up at Rs.128 mark.