Ashok Leyland Q4FY16 profit falls 66.5% to Rs77 crore
Ashok Leyland, lead of Hinduja Group and business vehicle creator, reported standalone net benefit of Rs.77.02 crore for the quarter finished March 31, 2016, enrolling decay of 66.51% yoy and 61.22% qoq. The organization's income remained at Rs. 5,955.28 crore, up 32.17% yoy and 45.77% qoq.
Its standalone center working benefit of Rs. 753.10 crore for the quarter, timed development of 64.76% yoy and 75.26% qoq. Working overall revenue for the present quarter at 12.65% extended by 251 bps yoy and 213 bps qoq.
For the year finished March 31, 2016, the organization reported standalone net benefit of Rs. 721.77 crore, developing by 115.58% yoy. Its standalone income for the period remained at Rs. 18,821.58 crore, enlisting development of 38.78% yoy.
Ashok Leyland Ltd is presently exchanging at Rs. 99.75, around 1.95 focuses or 1.92% from its past shutting of Rs. 101.7 on the BSE.
Hinduja bunch lead Ashok Leyland Ltd on Wednesday reported a 66.50% decrease in its standalone net benefit at Rs.77.02 crore for the final quarter finished 31 March, hit by reduction in estimation of its speculations.
The organization, which has reserved uncommon procurements of Rs.389 crore for 2015-16, incorporating disability in speculations on certain joint endeavors and additionally abroad backups, had posted a standalone net benefit of Rs.229.97 crore in the same time of the past monetary, Ashok Leyland said in a BSE recording.
Ashok Leyland said that its board in a meeting hung on Wednesday affirmed bringing of assets up in the abundance of Rs.700 crore through issue of value shares and secures/unsecured redeemable non-convertible debentures. Standalone net deals amid the period under survey were up 32.86% at Rs.5,893.48 crore as against Rs.4,435.53 crore in the year-prior period.
Amid the quarter, the organization said it brought about an excellent thing expense of Rs.379.25 crore, which was for the most part by virtue of reduction in estimation of speculations. For the whole 2015-16 monetary, Ashok Leyland's merged net benefit climbed about eight-fold to Rs.1,070.68 crore as against a net benefit of Rs.133.89 crore in the past financial, primarily supported by increases from minority interest.
Its net deals were up 35.12% to Rs.20,490.39 crore in 2015-16 as against Rs.15,163.92 crore in 2014-15. Remarking on the outcomes, Ashok Leyland overseeing executive Vinod K. Dasari said: "It has been an exceptionally effective and a satisfying year for us. The speculation we made in new items, the development of system and proceeded with endeavors in driving operational proficiency helped us keep up the development force."
Over the viewpoint, he said the organization will keep on investing in new items, advances and also improve its local and worldwide system further in quest for productive development. The organization said its outcomes for the year likewise included outstanding procurements (net) of Rs.389 crore. These included procurements for hindrance in interests in certain joint endeavors and also abroad auxiliaries.
The scrip opened at Rs. 103.3 and has touched a high and low of Rs. 105.25 and Rs. 99.1 individually. So far 9770324(NSE+BSE) shares were exchanged on the counter. The present business sector top of the organization is Rs. 28942.57 crore.
On the raising support arranges, the organization said its load up has endorsed issue of 13.5 crore value shares of face estimation of Rs.1 at a cost to be controlled by it later at the season of issue to qualified financial specialists, including outside, corporate bodies and banks. The board has suggested a profit of Rs.0.95 per value offer of the face estimation of Rs.1 each for the budgetary year finished 31 March 2016.
The BSE bunch "A" supply of face quality Rs. 1 has touched a 52 week high of Rs. 112.8 on 13-Apr-2016 and a 52 week low of Rs. 63.95 on 16-Jun-2015. Most recent one week high and low of the scrip remained at Rs. 103.8 and Rs. 99 separately.
The promoters holding in the organization remained at 50.38 % while Institutions and Non-Institutions held 16.32 % and 33.3 % separately.