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Ashok Leyland swings back into profit in Q4 as vehicle sales grow

Ashok Leyland said sales of medium and heavy commercial vehicles rose 10% to 38,643 units

Reuters 

Ashok Leyland posted a net profit in the fourth quarter against a net loss in the same period last year, as the truck maker sold more medium and heavy commercial vehicles. Net profit stood at Rs 476 crore ($73.72 million) in the quarter ended March 31, compared with a loss of Rs 141 crore, the company said on Thursday. Analysts on average estimated the company, which is majority-owned by the UK -based Hinduja Group, to post a profit of Rs 434 crore in the March-quarter, Thomson Reuters data showed. The company said sales of medium and heavy commercial vehicles rose 10 ...

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First Published: Thu, May 25 2017. 16:29 IST