Ashok Leyland Q4 net profit rises 40% at Rs 667 cr boosted by export revenue; shares down 3.89%

New Delhi: Hinduja Group flagship company Ashok Leyland on Friday posted 40.15 percent increase in its profit at Rs 667.38 crore for the fourth quarter ended 31 March, 2018. The company had reported a net profit of Rs 476.16 crore for the same period of the previous fiscal. Net income rose to Rs 8,830.22 crore during the fourth quarter as against Rs 7,133.43 crore in the same period of the previous fiscal, Ashok Leyland said in a regulatory filing. For the year ended 31 March, the company posted a consolidated net profit of Rs 1,815.81 crore, up 12.65 percent, from Rs 1,611.91 crore during 2016-17. [caption id=“attachment_962017” align=“alignleft” width=“380”] Representational image. AFP[/caption] Ashok Leyland Managing Director Vinod K Dasari said, 2017-18 turned out to be an extremely satisfactory year for the company with achievements in many fronts. “Exports have witnessed a healthy jump in the current year, and we will continue to focus on growing international business as well as defence and after-market portfolios. Our network continues to grow and reach out to more of our customers, he added “We have posted record revenues with record profits and at the end of the year, we are cash positive with nearly Rs 3,000 crore surplus. Our focus on working capital and operational efficiency will continue,” Ashok Leyland CFO Gopal Mahadevan said. The company’s board recommended a dividend of Rs 2.43 per share. The board of directors also approved the scheme of amalgamation of Ashok Leyland Vehicles, Ashley Powertrain and Ashok Leyland Technologies with Ashok Leyland, subject to various approvals as applicable. The appointed date for the scheme shall be 1 April, 2018, the company said. Shares of the company ended 3.89 percent down at Rs 148.40 on the BSE.