Ashok Leyland sales down 56% in July

The commercial vehicles maker reported a 56% decline in total sales at 4,775 units for July 2020 as against 10,926 units in the same month last year.

On a month-on-month (M-o-M) basis, total sales surged 123.96% in July 2020 from 2,132 units in June 2020.

Sales for its medium and heavy commercial vehicles (M&HCV) dropped 75% at 1,705 units in July 2020 as against 6,721 units in the year-ago period, the company said in a filing. Light commercial vehicles (LCV) sales tanked 27% at 3,070 units as against 4,205 units in July last year.

Ashok Leyland's consolidated net profit slumped 92.3% to Rs 57.78 crore on a 48.1% drop in net sales to Rs 5,062.15 crore in Q4 March 2020 over Q4 March 2019.

Shares of Ashok Leyland rose 1.64% at Rs 49.45 on BSE. Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.

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