Ashok Leyland reported a 17% YoY fall in net profit in its Q4FY23. Despite this, several brokerages remain optimistic about the Indian vehicle maker's stock, with JP Morgan maintaining an 'overweight' call and Nomura and Jefferies advocating a 'buy' stance on the counter. The fall in the bottom line was primarily because the company accrued a one-time gain in the same quarter last year, and revenue from operations rose 33% YoY. The company's market share in trucks and buses also showed improvement YoY, and its light commercial vehicle volumes grew 18% in the reported quarter.