Brands
Ashok Leyland clocks record Q3 profit despite labour code hit
Revenue jumps 22 per cent; margins improve and volumes beat industry
CHENNAI: Ashok Leyland Limited reported a record December quarter, delivering its highest-ever profit and revenue despite absorbing a one-off charge linked to the new labour code.
The commercial vehicle maker posted a standalone net profit of Rs 796 crore in the third quarter of FY26, up 4.4 per cent from Rs 762 crore a year earlier. The result includes a one-time charge of Rs 308 crore, after which profit still touched an all-time high.
Revenue from operations rose 22 per cent on-year to a record Rs 11,534 crore, compared with Rs 9,479 crore in the year-ago quarter, supported by strong demand across segments.
Operating performance remained firm, with Ebitda rising 27 per cent to Rs 1,535 crore from Rs 1,211 crore. Ebitda margin improved to 13.31 per cent, up from 12.78 per cent, marking the 12th consecutive quarter of double-digit margin growth, the company said.
Volumes expanded sharply. MHCV sales rose 23 per cent to 32,929 units, while LCV volumes climbed 30 per cent to 20,518 units, outpacing industry growth, according to Vahan data. Export volumes increased 20 per cent to 4,965 units.
Ashok Leyland’s net cash position strengthened to Rs 2,619 crore, nearly triple the level a year earlier.
Commenting on the results, executive chairman Dheeraj Hinduja, said market conditions remained favourable and growth momentum was expected to continue across MHCV, LCV and defence businesses. He added that the company is advancing a structured pipeline of new products across conventional and alternative propulsion platforms.
Hinduja said the electric vehicle arm, Switch Mobility, has begun international bus deliveries, holds a healthy order book, and posted positive Ebitda and Pat over the first nine months.
Shares of Ashok Leyland fell 2.21 per cent to Rs 205.09 on the NSE following the earnings announcement.
Brands
Pocket FM elevates Lalit Gangwar to COO to drive global growth
Founding member to lead operations, monetisation and expansion across markets
MUMBAI: Pocket FM has elevated Lalit Gangwar to chief operating officer, tasking the founding team member with leading global business operations as the company sharpens its international growth strategy.
In his new role, Gangwar will oversee end-to-end operations across markets, including growth, monetisation and execution for the company’s audio business. The appointment comes as Pocket FM looks to strengthen its operating foundation and build a more predictable, scalable global business.
Gangwar has been closely involved in shaping the company’s trajectory from its early days. He played a key role in building the growth and marketing playbook in India, helping the platform scale to over 150 million users within its first year and establish a strong foothold in the audio storytelling category.
He later led Pocket FM’s expansion into the United States, where he set up teams, defined market strategy and drove scale, contributing significantly to the company’s international ambitions.
Pocket FM co-founder and CEO Rohan Nayak said, “Lalit has been central to Pocket FM’s journey from the very beginning. He has built our growth engine and scaled our business across markets.” He added that the company’s focus on nurturing internal talent makes Gangwar a natural choice to lead the next phase.
Gangwar said, “Pocket FM has always been driven by a simple belief that powerful stories can travel across borders and create meaningful impact.” He noted that the company will continue to focus on scaling markets, investing in AI-led storytelling and strengthening monetisation.
As COO, Gangwar is expected to bring greater operating discipline while building systems, talent and processes to support long-term growth.
With leadership continuity and a clear global focus, Pocket FM appears to be turning the page to its next chapter, one that aims to take its storytelling playbook well beyond home turf.
