Ashok leyland result: Commercial vehicle manufacturing company Ashok Leyland has made bumper profit in the fourth quarter of the financial year 2023-24. Profit in this quarter increased by 16.73 percent to Rs 933.69 crore. Profit in the fourth (January-March) quarter of financial year 2022-23 was Rs 799.87 crore. Operating income in the quarter stood at Rs 13,577.58 crore as against Rs 13,202.55 crore in the same period a year ago. Total expenditure declined to Rs 12,037.16 crore in the fourth quarter.
declaration of dividend
For the entire financial year 2023-24, profit increased to Rs 2,696.34 crore and operating income stood at Rs 45,790.64 crore. The Board of Directors of Ashok Leyland, in its meeting held on March 25, 2024, has declared an interim dividend of Rs 4.95 on each share of face value of Re 1 for the financial year ending March 31, 2024.
What did the MD of the company say
Ashok Leyland Managing Director and Chief Executive Officer Shenu Agarwal said that the financial year 2023-24 has been a strong year for us. Be it revenue, income before tax or profits we have achieved all-time high figures. On future strategy, Ashok Leyland Chairman Dheeraj Hinduja said that we remain optimistic about the prospects of our industry in the short to medium term due to the strong growth expected in the Indian economy.
stock surge
After excellent quarterly results, there was a stormy rise in the company’s shares. This share reached a high of Rs 219.50. However, at the end of trading the share stood at Rs 210.55. There was profit booking in this stock. Domestic brokerage firm SMC Global has also advised to buy shares of Ashok Leyland. Brokerage has given a target price of Rs 230-232.
