Ashok Leyland November auto sales above Street estimates, rise 29% from last year

Shares of Ashok Leyland Ltd. gained on Monday, December 1, after the medium and heavy commercial vehicles (M&HCV) manufacturer reported its monthly sales data.  

The company sold a total of 18,272  units in November, up 29% from the previous year's 14,137 vehicles. This was also higher than the CNBC-TV28 poll of 16,730 units. 

The domestic market dominated demand, with 16,491 vehicles sold, up 32% from 12,473 sold in November 2024. Of these, it sold a total of 8,576 M&HCV trucks, 1,662 buses, and 6,253

light commercial vehicles (LCV).

In the September quarter, the auto manufacturer posted 9.3% growth in revenue at ₹9,588 crore from the previous year. It was boosted by healthy volumes, which increased by 8% from last year and 11% sequentially. 

Its net profit remained unchanged at ₹771 crore, despite a one-time loss of ₹40 crore for Ashok Leyland, compared to a one-time gain of ₹117 crore during the same quarter last year.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter increased by 14.2% on a year-on-year basis to ₹1,162 crore, which was in-line with the CNBC-TV18 poll estimate of ₹1,116 crore. This is the 11th straight quarter of the company reporting double-digit growth in its EBITDA.

Last month, the company also reported that M&HCV volumes for the second quarter increased by 3% from last year, while LCV volumes were up 6%. Export volumes for the quarter increased by 45% from last year to 4,784 units.

Shares of the company weer trading at ₹160.83 apiece as of 11:52 am, up 1.71%.

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