Ashok Leyland reported a 2% rise in Q1 consolidated profit to Rs 668 crore, while revenue grew 10% to Rs 10,750 crore. Margins declined amid higher material costs. Brokerages remain positive, citing strong commercial-vehicle demand, market-share gains and growth prospects. Citi, Nomura and Choice maintained Buy/Neutral views, with targets around Rs 194–Rs 200.
Demand across key segments remained robust and future prospects continue to be encouraging.
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