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Reuters
23-05-2025
- Automotive
- Reuters
India's Ashok Leyland beats quarterly profit view on demand for high-margin heavy vehicles
May 22 (Reuters) - Indian truck and bus maker Ashok Leyland ( opens new tab reported a higher-than-expected rise in fourth-quarter profit on Friday thanks to healthy demand for its margin-boosting, heavier load-carrying models. The Hinduja Group-owned automaker reported a profit of 12.46 billion rupees ($146 million) in the quarter ended March 31, a 38.4% rise over the previous year. Analysts, on average, expected the company to report a profit of 11.09 billion rupees, according to data compiled by LSEG. Ashok Leyland's overall sales grew 5%, with those of its larger models climbing 7%, it said in its quarterly update in April. The company benefited from lower discounting compared to a year before, analysts said, while higher contribution to sales from its more profitable heavy commercial vehicles (CV) helped. The segment, which includes vehicles such as the "BOSS" truck, forms two-thirds of Ashok Leyland's overall sales. The low-margin small CV segment's contribution to Ashok Leyland's overall sales declined. Industry-wide sales of commercial vehicles grew 1.5% in the January-March period, with the medium and heavy models' 3.9% sales jump driving growth. Rival Eicher ( opens new tab reported profit at its CV joint venture with Volvo doubled due to high demand, while Tata Motors ( opens new tab reported a profit decline as demand for its small CVs stayed low. Ashok Leyland's shares closed 0.3% higher on the day, little changed after the results. ($1 = 85.1710 Indian rupees)
Reuters
13-05-2025
- Automotive
- Reuters
India's Tata Motors tops fourth-quarter profit view
May 13 (Reuters) - Indian automaker Tata Motors ( opens new tab reported a bigger-than-expected quarterly profit on Tuesday, helped by higher sales at its luxury stable Jaguar Land Rover (JLR) and lower expenses. The company reported a consolidated net profit of 84.70 billion rupees ($993 million) for the fourth quarter ended March 31, topping analysts' expectations of 74.58 billion rupees, as per data compiled by LSEG. ($1 = 85.2750 Indian rupees)
