Karnataka State Strikes Rs. 522 Crore Deal with Ashok Leyland for Delivery of 1,225 Buses

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Ashok Leyland Bags Rs 522 Crore Order: A New Era of Comfort and Safety


Discover the latest achievement of Ashok Leyland in bagging a significant order from the Karnataka State Transport Undertakings. 

Introduction


Ashok Leyland, a leading name in the commercial vehicle manufacturing industry, has recently made headlines with its latest achievement. The company's shares have seen a 1.23% increase, reaching Rs 173.45, following the announcement of a significant order from the Karnataka State Transport Undertakings (STU).

About Ashok Leyland


Engaged in the manufacture and sale of a wide range of commercial vehicles, Ashok Leyland has established itself as a trusted brand in the industry. The company's portfolio extends beyond vehicles, encompassing the manufacture of engines for industrial and marine applications, as well as forgings and castings.

Bagged Orders from Karnataka State Transport Undertakings (STU)


Ashok Leyland has bagged orders for 1,225 fully built Viking buses from the Karnataka STU, amounting to a total consideration of Rs 522 crore. These 210-wheel base Viking buses are AIS 153 certified and BSVI OBD II diesel-fueled, designed for Mofussil operation. They feature the advanced iGen6 BSVI technology with a robust 147 kW (197 HP) H Series Engine, expected to enhance safety, comfort, and reduce the overall cost of ownership (TCO). The company is set to supply these buses from January 2024 to April 2024.

Financial Result


In Q2 FY24, Ashok Leyland reported a net profit of Rs 561.01 crore, a significant increase from Rs 199.31 crore posted in the corresponding quarter last year. The company's revenue from operations jumped 16.6% year on year to Rs 9,638.04 crore in Q2 FY24.

Conclusion


Ashok Leyland's recent achievement further cements its position as a preferred brand by Karnataka State Transport Undertakings (STUs), boasting a fleet of over 11,680 operational buses. This development not only marks a significant milestone for the company but also underscores its commitment to delivering quality and value to its customers.

Disclaimer


This blog post is for informational purposes only and should not be considered as investment advice. Always do your own research or consult with a financial advisor before making investment decisions.

Keywords: Ashok Leyland, Commercial Vehicle Manufacturing, Karnataka State Transport Undertakings, Viking Buses, iGen6 BSVI technology, Q2 FY24 Financial Result


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