LG Electronics India's profit grew by 27.2% in the first quarter of fiscal year 2027 to 653 crore rupees

Commercial vehicle manufacturer Ashok Leyland Ltd announced on Friday a 1.5% increase in consolidated net profit. For the first quarter ending June 30, 2026, the profit amounted to INR 667.77 crore.

According to regulatory filings, in the same period last fiscal year, the company recorded a consolidated net profit of INR 657.72 crore. For the quarter under review, consolidated operating revenue reached INR 13,069.59 crore, compared to INR 11,708.54 crore the previous year.

The company's board of directors approved investments of up to £25 million (equivalent to approximately INR 325 crore) in its British subsidiary Optare Plc., as well as up to INR 500 crore into the equity capital of Hinduja Housing Finance Ltd through a secondary share purchase.

Total expenses in the quarter under consideration were higher at INR 12,314.66 crore versus INR 10,920.53 crore for the same period last year.

Furthermore, the company reported achieving its highest volume of commercial vehicle sales in its history during the quarter—48,763 units, surpassing the 44,238 units recorded in the corresponding period last year.

Management Comments on Results

Commenting on the results, Ashok Leyland Chairman Dhiraj Hinduja noted that the company demonstrated a strong quarter, supported by disciplined execution of plans and efficient cost management. He emphasized that demand in key segments remains high, and future prospects look promising. Hinduja added that government initiatives, such as Parivartan, could accelerate fleet modernization and support the long-term growth of the commercial vehicle industry.

Hinduja also mentioned that the company's electric mobility subsidiary, Switch Mobility, continues to gain momentum. He stated the strengthening of the company's presence in international markets and in the defense business to diversify sources of growth.

Ashok Leyland Managing Director and CEO Shenu Agarwal noted that India's commercial vehicle industry remained resilient in the first quarter despite geopolitical challenges. He stressed that this indicates stable fundamental indicators and the growth potential of the Indian commercial vehicle industry.

Agarwal also reported that although rising material costs remain an issue, the company is taking several measures to improve price realization, conduct thorough cost savings, enhance product and business portfolios, and build inventory based on opportunities.

Lupin Ltd, a major pharmaceutical manufacturer, reported a 16% increase in consolidated net profit after tax, reaching ₹1,416.98 crore in the first quarter ending June 30, driven by steady growth in key markets.

The company stated in regulatory filings on Thursday that the consolidated profit after tax for the same period last fiscal year was ₹1,221.46 crore. For the reporting quarter, total operating revenue reached ₹8,276.89 crore compared to ₹6,268.34 crore the previous year.

Meanwhile, total expenses in the quarter under review increased to ₹6,389.83 crore, up from ₹4,931.84 crore in the corresponding period last fiscal year.

Management Commentary

Commenting on the results, Lupin Ltd Managing Director Nilesh Gupta expressed satisfaction with the strong start to fiscal year 2027, noting that the growth is attributed to robust development in core markets and continuous improvement in profitability. He added that the company's focus on execution, operational excellence, and ongoing investment in technology and innovation strengthens the business and ensures sustainable, profitable growth in the long term.

In the first quarter, sales in the US market amounted to ₹3,434.8 crore, which is 42.9% higher than ₹2,404.1 crore in the same period last year. Sales in India grew by 13.9% to reach ₹2,379.6 crore compared to ₹2,089.4 crore the previous year. Furthermore, sales in other developed markets totaled ₹1,149.4 crore versus ₹774.8 crore in the first quarter of the previous fiscal year, demonstrating a growth of 48.3%.

Jindal Stainless Ltd announced a year-on-year increase in consolidated net profit by 7.6%, reaching INR 769 crore in the June quarter, driven by increased revenue. In the same quarter last year, the company recorded a net profit of INR 715 crore, according to the report filed with the stock exchange.

The company's operating revenue grew by 10.5% year-over-year (YoY), amounting to INR 11,279 crore in the first quarter of fiscal year 2027, compared to INR 10,207 crore for the April-June period of the previous fiscal year. As of the end of June, the company's consolidated net debt reached INR 2,950 crore.

Abhidhuday Jindal, Managing Director of Jindal Stainless, noted that the company's results remained resilient despite an extremely dynamic operating environment characterized by supply chain disruptions and changing global trade conditions.

The company reported that in the initial weeks of the quarter, there were disruptions in the supply of industrial gases due to a crisis in West Asia. The company's management proactively mitigated this impact by increasing the use of liquefied natural gas to compensate for the limited availability of propane and LNG.

Despite the measures taken to address the issues, the company had to temporarily reduce production across all manufacturing units. Nevertheless, the company reported sales of finished products amounting to 580,805 metric tons in the first quarter of fiscal year 2027 and maintained healthy financial growth through sustained activity in the value-added product segment.

Export business remained stable amid the complex global situation. A diversified portfolio of markets, which includes expanding opportunities in South Korea, Japan, and Brazil, as well as a constant presence in Europe and the US, helped keep exports at 11% of total sales.

During the media call, Jindal emphasized the need to control growing imports from certain countries, particularly China. He stated that such import flows create challenges for domestic investment amidst rising demand for stainless steel in India, and called on the government not to extend Quality Control Orders (QCOs).

The statement noted that the company's strong performance was driven by steady demand in key end-use sectors, including transportation, infrastructure, manufacturing, and consumer sectors. The automotive segment continued to be a strong growth driver, and volumes of special grades also increased in the first quarter of fiscal year 2027. Furthermore, healthy sales growth was observed in the consumer goods and metro projects segments during the quarter, while demand from the railway sector remained constant. The company also received orders for specialized grades of stainless steel for the energy and oil and gas sectors.