Commercial vehicle manufacturer Ashok Leyland has achieved its highest ever Q1 market share of 34.7 percent. The company reported a revenue of Rs 4,514.39 crore for the first quarter ended June 30, 2017.
Ashok Leyland's Profit After Tax (PAT) stood at Rs.111.24 crore. The company has gained YOY market share in 12 of the last 13 quarters. The growth in the market share is driven by the success of its iEGR technology for BS IV engines launched in April 2017.
The iEGR technology has been well accepted by customers and has once again showcased Ashok Leyland's technology capabilities. The next three-quarters also look promising as the demand is expected to increase.
Managing Director, Ashok Leyland Limited, Vinod K. Dasari said, "It has been a very satisfying quarter. Despite all the challenges, our robust market share growth exemplifies the technological leadership of Ashok Leyland."
CFO of Ashok Leyland, Gopal Mahadevan said, "Our Financial performance continues to be robust. The best part about Ashok Leyland's initiatives is the strong customer focus even as we drive financial performance. Debt / Equity for the quarter was 0.3:1."
Ashok Leyland introduced its innovative iEGR technology for BS-IV engines and it has received a very good responce from the customers . Riding high on the new tech, the company has achieved its best Q1 market share.