Ashok Leyland slips after dull sales in March

The announcement was made after market hours on Tuesday, 2 April 2013.

Meanwhile, the BSE Sensex was down 58.94 points, or 0.31%, to 18,982.01.

On BSE, 10,000 shares were traded in the counter as against an average daily volume of 14.74 lakh shares in the past one quarter.

The stock hit a high of Rs 22.40 and a low of Rs 22.30 so far during the day. The stock had hit a 52-week high of Rs 32.90 on 2 May 2012. The stock had hit a 52-week low of Rs 20.25 on 30 August 2012.

The stock had underperformed the market over the past one month till 2 April 2013, sliding 3.23% compared with the Sensex's 0.65% rise. The scrip had also underperformed the market in past one quarter, falling 17.92% as against Sensex's 3.42% fall.

The mid-cap commercial vehicle maker has an equity capital of Rs 266.07 crore. Face value per share is Re 1.

Ashok Leyland said sales of commercial vehicles declined by 20% to 9,695 units in March 2013 over March 2012. However, sales of small commercial vehicle 'DOST' spurted 96% to 4325 units in March 2013 from 2,211 units sold in March 2012.

The company's total sales grew by 12% to 1.14 lakh units in the year ended March 2013 (FY13) over the year ended March 2012 (FY12). Sales of commercial vehicle fell by 16% to 79,695 units in FY13 over FY12.

Ashok Leyland's net profit rose 10.8% to Rs 74.14 crore on 18.6% fall in net sales to Rs 2322.50 crore in Q3 December 2012 over Q3 December 2011.

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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