Ashok Leyland shares rally nearly 8%
During the day, it climbed 8.59% to the 52-wk high of Rs228.65. At the NSE, it zoomed 7.78% to Rs227.10
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Shares of Ashok Leyland on Monday rallied nearly 8 per cent after the company reported a 16.73 per cent increase in consolidated net profit to Rs933.69 crore in the March quarter. The stock jumped 7.69 per cent and ended at Rs226.75 on the BSE. During the day, it climbed 8.59 per cent to the 52-week high of Rs228.65. At the NSE, it zoomed 7.78 per cent to Rs227.10.
The company added Rs4,756.85 crore taking its market valuation to Rs66,581.22 crore. The company had posted a net profit of Rs799.87 crore in the same period of the previous fiscal, Ashok Leyland said in a regulatory filing on Friday. Consolidated revenue from operations in the quarter under review stood at Rs13,577.58 crore as compared to Rs13,202.55 crore in the year-ago period, it added.
Total expenses in the fourth quarter were marginally lower at Rs12,037.16 crore as compared to Rs12,085.5 crore in the corresponding period of the previous year. For the fiscal ended March 31, 2024, net profit was at Rs2,696.34 crore as compared to Rs1,358.82 crore in the previous fiscal. In FY24, consolidated revenue from operations was at Rs45,790.64 crore as compared to Rs41,672.6 crore in FY23, the company said.
