Ashok Leyland Q2 Results: Net profit flat at ₹771 crore, revenue up 9.3%

Ashok Leyland Q2 Results FY26: Net profit rose 0.1% YoY to ₹771 crore on revenue that increased 9.3% to ₹9,588 crore.

Ashok Leyland Ltd. grew on the back of steady sales in July-September 2025, even as its bottomline remained largely flat.

Ashok Leyland says it's well-positioned to achieve our mid-teen EBITDA goal in the medium-term. (Tushar Deep Singh/HT)

Net profit of the commercial-vehicle maker rose 0.96% over the year-ago period to ₹771.06 crore in the three months ended 30 September, on revenue that increased 9.34% year-on-year to ₹9,588.18 crore, according to an exchange filing on Wednesday (12 November 2025). Analysts polled by Bloomberg had estimated the topline at ₹9,564 crore and the bottomline at ₹724 crore.

Ashok Leyland Q2 Results FY26

• Revenue up 9.3% YoY at ₹9,588 crore
• EBITDA up 14.2% at ₹1,162 crore
• EBITDA margin up 50 bps at 12.1%
• Net profit up 0.1% at ₹771 crore

One basis point is one-hundredth of a percentage point.

Ashok Leyland has now clocked double-digit EBITDA growth for 11 consecutive quarters, which has translated into record quarterly profit and higher margins.

“We believe we are well-positioned to achieve our mid-teen EBITDA goal in the medium-term,” Shenu Agarwal, chief executive officer at Ashok Leyland, said in a statement. “We remain cash positive.”