Ashok Leyland slips after sales decline 62% MoM in May
Ashok Leyland fell 1.26% to Rs 121.90 after the auto maker recorded 61.6% decline in total sales (domestic+exports) to 3199 units in May 2021 from 8340 units in April 2021.
The company reported total sales of 1420 units sold in May last year.
While total domestic medium and heavy commercial vehicle (M&HCV) sales declined by 62% to 1513 units, total domestic light commercial vehicle (LCV) sales contacted by 69.2% to 1225 units in May 2021 over April 2021. The company had sold 151 units of M&HCV and 1126 units of LCV in May 2020.
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.
The company's consolidated net profit tanked 32.9% to Rs 38.32 crore on a 15.2% surge in net sales to Rs 5,928.15 crore in Q3 December 2020 over Q3 December 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content