Ashok Leyland drops after weak sales in February

Ashok Leyland lost 0.96% to Rs 15.40 at 9:16 IST on BSE after the company said its total sales fell 21% to 7,915 units in February 2014 over February 2013.

The company announced the sales numbers after market hours on Monday, 3 March 2014.

Meanwhile, the S&P BSE Sensex was up 38.61 points or 0.18% at 20,985.26.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 4.88 lakh shares in the past two weeks.

The stock hit a high of Rs 15.70 and a low of Rs 15.50 so far during the day.

Ashok Leyland's sales of medium and heavy commercial vehicles (M&HCV) fell 21% to 5,576 units in February 2014 over February 2013. Total sales of light commercial vehicles (LCV) fell 22% to 2,339 units in February 2014 over February 2013. The company's total sales rose 0.86% to 7,915 units in February 2014 over January 2014.

Ashok Leyland reported a net loss of Rs 167.21 crore in Q3 December 2013 compared with net profit of Rs 74.14 crore in Q3 December 2012. Net sales declined 19% to 1903.28 crore in Q3 December 2013 over Q3 December 2012.

Ashok Leyland, the flagship of the Hinduja Group, is the second largest maker of commercial vehicles in India after Tata Motors.

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