Ashok Leyland surges on reporting a consolidated net profit of Rs 351 crore in Q3

Shares of Ashok Leyland Limited gained more than 3% today. 

Positive Q3FY23 numbers

Ashok Leyland has reported results for the third quarter that ended on December 31, 2022 (Q3FY23). On a consolidated basis, the company has reported a net profit of Rs 351.21 crore for the quarter under review as compared to a net loss of Rs 107.57 crore for the same quarter in the previous year. The total income of the company increased 56.24% at Rs 10,430.39 crore for Q3FY23 as compared to Rs 6,675.83 crore for the corresponding quarter previous year.

Ashok Leyland, flagship of the Hinduja group, is the second-largest manufacturer of commercial vehicles in India, and the third-largest manufacturer of buses in the world. The company is engaged in the manufacturing of commercial vehicles and related components. The company has a product range from 1T GVW (Gross Vehicle Weight) to 55T GTW (Gross Trailer Weight) in trucks, 9-to-80-seater buses, vehicles for defence and special applications, and diesel engines for industrial, genset and marine applications.

Stock price movement of Ashok Leyland 

Today, the stock opened at Rs 153.05 with a high and low of Rs 155.10 and Rs 146.80. The stock closed trading at Rs 152.05, up by 2.95%. In the last six months, the shares of the company have given more than 2% returns and on a YTD basis, the stock has given about 2.3% returns. The BSE group 'A' stock has a face value of Rs 1.00.

The stock has a 52-week high of Rs 169.40 and a 52-week low of Rs 93.20. The company has a ROCE of 6.25% and an ROE of 1.68%, with a market capitalisation of Rs 44,644 crore.