Ashok Leyland shrugs off poor August sales numbers

Ashok Leyland rose 3.33% to Rs 12.40 at 14:03 IST on BSE after the company said its total sales declined 24% to 7,139 units in August 2013 over August 2012.

The company announced the August sales numbers during trading hours today, 2 September 2013.

Meanwhile, the S&P BSE Sensex was up 268.63 points or 1.44% at 18,888.35.

On BSE, 15.06 lakh shares were traded in the counter as against average daily volume of 8.59 lakh shares in the past one quarter.

The stock hit a high of Rs 12.55 and a low of Rs 11.87 so far during the day. The stock had hit a 52-week low of Rs 11.82 on 29 August 2013. The stock had hit a 52-week high of Rs 28.70 on 3 December 2012.

The stock had underperformed the market over the past one month till 30 August 2013, sliding 11.76% compared with the Sensex's 3.77% fall. The scrip had also underperformed the market in past one quarter, declining 50.72% as against Sensex's 7.89% fall.

The mid-cap company has equity capital of Rs 266.07 crore. Face value per share is Re 1.

Ashok Leyland's sales of commercial vehicles excluding small commercial vehicle (SCV) Dost fell 25% to 4,939 units in August 2013 over August 2012. Sales of SCV Dost declined 22% to 2,200 units in August 2013 over August 2012.

Ashok Leyland reported a net loss of Rs 141.75 crore in Q1 June 2013, as against net profit of Rs 66.94 crore in Q1 June 2012. Net sales declined 21.9% to Rs 2313.21 crore in Q1 June 2013 over Q1 June 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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