Ashok Leyland shares hit record high; here is how the company fared in Q1

Shares of Ashok Leyland, the flagship company of Hinduja Group, jumped as much as 7% to ₹248.89 apiece on the NSE on Friday, July 26. The stock jumped a day after the company reported its June quarter (Q1 FY25) numbers. 

For the April-June period, the automotive manufacturer reported a 6% year-on-year (YoY) fall in its consolidated net profit to ₹509 crore. The company posted a net profit of ₹544 crore in the corresponding quarter of the previous fiscal. 

The company's total income increased to ₹10,754 crore in the first quarter against ₹9,735 crore registered in the year-ago period, PTI reported.

Industry volumes for the first quarter were at comparable levels to the previous peak of Q1 FY19, the chairman stated.

"The company's Q1 performance has beaten all expectations; we have been able to post excellent results with focused market performance while reining in costs," Hinduja stated. Through Switch Mobility, the company is geared to participate in the growing EV market with a clear road map, Hinduja added.

Ashok Leyland shares price performance

Shares of the company have given 36% returns in the past 12 months. In comparison, the benchmark Nifty50 has rallied over 25% during the window.