Mumbai: Ashok Leyland on Thursday reported a sharp sequential drop in its consolidated net profit for the April–June quarter (Q1 FY26), with earnings falling 47.21 per cent to Rs 657.72 crore from Rs 1,245.92 crore in the previous quarter (Q4 FY25). Revenue from operations also declined 20.32 per cent to Rs 11,708.54 crore, compared to Rs 14,695.55 crore in Q4 FY25, according to its stock exchange filing.
The company’s total income fell in line with revenue to Rs 11,807.2 crore, down from Rs 14,817.18 crore in the preceding quarter. However, total expenses also dropped 16.62 per cent to Rs 10,920.53 crore from Rs 13,097.25 crore sequentially.
On a year-on-year (YoY) basis, however, Ashok Leyland posted healthy growth. Net profit rose 20 per cent from Rs 550.65 crore in the same quarter previous fiscal, while revenue climbed 9.4 per cent from Rs 10,697 crore. Operating profit (EBITDA) grew 18 per cent YoY to Rs 2,173 crore, with margins expanding to 18.5 per cent from 17.2 per cent.
The Hinduja Group’s commercial vehicle arm also registered record Q1 sales with its highest-ever CV volumes of 44,238 units. Medium and heavy commercial vehicle (MHCV) truck volumes (excluding Defence) grew 2 per cent YoY, lifting market share from 28.9 per cent to 30.7 per cent.
MHCV bus volumes rose 5 per cent — helping the company maintain domestic market leadership in the segment. Exports grew 29 per cent YoY to 3,011 units, while the light commercial vehicle (LCV) segment recorded domestic sales of 15,566 units.
Power solutions, aftermarket, and defence businesses also contributed to the overall performance. The company ended the quarter with a cash surplus of Rs 821 crore. Shares of Ashok Leyland were trading 2.27 per cent higher at Rs 122.45 apiece on the NSE following the earnings announcement.