For Q2FY24, AL reported revenue of INR 96,380 Mn, a growth of 16.6% YoY/ 17.7% QoQ. This was backed by underlying volume growth of 10.0% YoY/ 20.6% QoQ. Domestic M&HCV volumes grew by 17.6% YoY, due to growth in the end-user industries like cement, steel, coal, iron ore and container movements. Within domestic M&HCV, bus volumes grew by 95.2% YoY driven by all categories of tourist and intercity, private carriage, state transport undertaking, as well as school and staff. LCV volumes were almost flat (-0.2% YoY).