Ashok Leyland hit record high of Rs.90.40 on the back of its Q1FY16 numbers. It turned around with a net profit of Rs.159 crore v/s loss of Rs.48 crore (YoY) on a 55% rise in revenue at Rs.3841 crore. EBITDA for the quarter was at Rs.389 crore v/s Rs.100 crore in previous Q1. Margins expanded 610 bps to 10.2% (YoY). Tax expense for the quarter was at Rs.76 crore v/s tax write-back Rs.22 crore in previous Q1.

While the industry volume grew 23%, it outperformed the industry with a growth of 45% in medium and heavy commercial vehicles; it sold a total of 28,190 vehicles, up 42%. Realization rose 10% from Rs.12.42 lakh per unit to Rs.13.60 lakh. In Q1, it sold 14706 trucks and 3894 buses. Higher revenue, strong operational performance and 28% drop in interest cost; all together have helped the company post these strong numbers. Investments in many new products and continued strict discipline on cost have helped boost results.