Ashok Leyand gains 9 percent after posting Quarter4 results.
Published On: Friday, June 25, 2021 | By: Team KnowMyStock
Shares of Ashok Leyland zoomed 9 per cent to Rs 129.35 on the BSE in intra-day trade on Friday as the commercial vehicle maker posted a net profit of Rs 241.17 crore in the March 2021 quarter. The company had incurred a net loss of Rs 57.32 crore in the same quarter previous year. The Company's Market share improved 0.8 per cent to 28.9 per cent in the March 2021 quarter (Q4FY21) from 28.1 per cent in December 2020 quarter. The revenue from the operations surged 80 per cent to Rs 7,000.49 crore in the March 2021 quarter from Rs 3,872 crore in the same quarter previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) were at Rs 533.7 crore and the margin expanded to 7.6 percent from 4.7 percent (YoY).For the full financial year 2020-21, the company has posted a net loss of Rs 313.68 crore as against a profit of Rs 239.65 crore in the financial year 2019-20.
The company board has announced a final dividend of Rs 0.60 per equity share with the face value of Re 1 each.
Going forward, Ashok Leyland expects good opportunities in the industry would help it grow the exports, defence, power solutions, light commercial vehicles (LCV) and parts business even as it expands the reach and products of the core MHCV business. The emerging businesses such as electric vehicle (EV) and customer solutions (CSB) will assist in complementing the core business, the company said.
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