Ashok Leyland Ltd. has returned to black, reporting standalone net profit of ₹241 crore for the fourth quarter ended March due to 66% industry volume growth in M&HCV sector.
The truck-and-bus maker had incurred a net loss of ₹57 crore a year earlierdue to a slowdown in the commercial vehicle market. Revenue from operations rose to ₹7,000 crore(₹3,838 crore). The board declared a final dividend of 60 paise per share.
The results included an exceptional item of ₹37 crore pertaining to gain on sale of immovable assets, obligations related to discontinued products of the LCV division, VRS and impairment in value of equity instruments in subsidiaries.During the quarter, M&HCV truck volumes grew at 111% for the company, it said in a regulatory filing.
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