Ashok Leyland gains after month-on-month surge in March sales

Ashok Leyland rose 1.99% to Rs 23.10 at 10:42 IST on BSE after the company said its total sales surged 29.95% to 10,286 units in March 2014 over February 2014.

The sales numbers were announced after market hours on Tuesday, 1 April 2014.

Meanwhile, the S&P BSE Sensex was up 83.68 points or 0.37% at 22,530.12.

On BSE, so far 10.84 lakh shares were traded in the counter as against average daily volume of 46.08 lakh shares in the past two weeks.

The stock hit a high of Rs 23.45 and a low of Rs 22.35 so far during the day.

Ashok Leyland's total sales declined 27% to 10,286 units in March 2014 over March 2013. Sales of medium and heavy commercial vehicles declined 20% to 7,723 units in March 2014 over March 2013. Sales of light commercial vehicles (LCV) declined 41% to 2,563 units in March 2014 over March 2013. The company's sales fell 22% to 89,342 units in the fiscal ended 31 March 2014 over the fiscal ended 31 March 2013.

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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