Ashok Leyland Q3 PAT rises 4% to ₹796 crore

Ashok Leyland Ltd, a commercial vehicle manufacturer for the third quarter ended December 31, 2025 reported 4% Year on Year (YoY) growth in net profit at ₹796 crore after considering a onetime charge of ₹308 crore towards new Labour Code. During the quater, the company’s revenue grew 22% YoY to ₹11,534 crore.

Medium & Heavy Commercial Vehicles volume were at 32,929 units as compared with 26,692 units in the same period last year up 23%. “This is higher than Q3 industry growth resulting in market share gain,” the company said.

Light Commercial Vehicles volume were at 20,518 units as compared with 15,754 units a year ago, up 30%. This is higher than the industry volume growth (VAHAN) resulting in market share gain, it said.

“Ashok Leyland’s domestic MHCV market share continues to be above 30%. The company also has maintained market leadership in the Bus segment with a 40% market share in Q3,” it added.

Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said “Market conditions continue to be favourable, and we are optimistic that this strength will sustain in the medium term across all our businesses, including MHCV, LCV, and Defence.”

“Our strong and consistent growth in volumes and profitability underscores the competitiveness of our portfolio, which delivers superior performance and customer value, reinforced by deep and effective customer engagement across all segments,” he said.

“We are executing a structured pipeline of product introductions across conventional and alternative propulsion platforms to further strengthen our leadership in the domestic market and accelerate our expansion in international markets,” he said,

“Our electric vehicle arm, Switch, has a healthy order book and a well-defined product roadmap. It has started delivering buses in International markets and has achieved positive EBITDA and PAT over the first nine months,” he added.