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Ashok Leyland, India's second-largest commercial vehicle maker, reported a net profit of ₹751.4 crore in Q4FY23, a decline of 16.6% year-over-year (YoY). The company's revenue from operations increased by 32.95% YoY to ₹11,625.7 crore.
The company's net profit decline was mainly due to higher input costs and freight expenses. However, the company's revenue growth was driven by strong demand for commercial vehicles in India.
The company's board has proposed a dividend of ₹2.6 per equity share of the face value of ₹2 each, for fiscal 2022-23, subject to the approval of shareholders.
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The strong financial performance of Ashok Leyland is a testament to the company's robust business model and its ability to capitalize on the growing demand for commercial vehicles in India. The company is well-positioned to continue its growth momentum in the coming quarters, driven by the continued growth in demand for commercial vehicles in India.
Keywords: Ashok Leyland, Q4FY23, net profit, revenue, dividend, commercial vehicles, India
