Commercial vehicles (CV) major Ashok Leyland Ltd reported an 8.7 per cent increase in consolidated net profit at ₹891 crore for the second quarter ended September 2026 as against ₹820 crore in the same quarter last year.
Consolidated revenue from operations rose 35 per cent and stood at ₹17,030 crore in Q2 FY27.
A 45 per cent jump in the cost of materials and services consumed at ₹9,899 crore weighed on the profitability.
On a standalone basis, net profit rose 13 per cent to ₹869 crore. Revenue grew 39 per cent to ₹13,364 crore.
In a statement, the company said that its CV volumes went up 32 per cent to 64,677 units, compared with 49,116 units in the corresponding quarter last year.
Swelect Energy Q2 PAT down 90% at ₹1.9 crore
Ashok Leyland outperformed the industry in the Medium and Heavy Commercial Vehicle (MHCV) segment, which saw a 44 per cent year-on-year growth in volumes to 37,958 units. In the Light Commercial Vehicle (LCV) segment, volumes grew by 21 per cent to 21,371 units.
Export volumes for the quarter stood at 5,102 units, registering a 7 per cent year-on-year increase.
Ashok Leyland reported a market share of 31.5 per cent in the domestic truck market, representing a gain of 150 basis points during the quarter (excluding defence). The company said it has maintained its market share in the bus segment (excludes EV buses).
“Our record Q2 performance reflects the strength of Ashok Leyland’s business fundamentals, competitive product portfolio and strong customer focus. We are encouraged by the promising performance of our international business and continue to strengthen our presence in key export markets. Switch Mobility is also progressing well, with a strong outlook for the electric mobility business,” Dheeraj Hinduja, Chairman, Ashok Leyland, said.
Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said that their record Q2 performance, coupled with market share gains and fifteen consecutive quarters of double-digit EBITDA margins, reflects their focus on profitable growth.
The Board of Directors of Ashok Leyland Ltd has declared an interim dividend of ₹1 per share.
Published on November 14, 2026
