Ashok Leyland registers higher sales

Commercial vehicles major Ashok Leyland Ltd closed last month with 24 percent sales increase as compared to last year's corresponding period, the company said on Wednesday.

The company has posted 17 percent volume growth for the full year last fiscal.

In a statement issued here, Ashok Leyland said it sold 12,754 units last month up from 10,281 units sold in March 2014.

For the full fiscal last year (2014-15), the company had sold 104,902 units up from 89,337 units sold in the year 2013-14.

Last fiscal the company logged 29 percent growth in the sales of its medium and heavy commercial vehicles with 77,660 units while the light commercial vehicle sales came down by six percent to 27,242 units.

Meanwhile, as a part of its plan to sell non-core assets, Ashok Leyland has sold its holding Avia Ashok Leyland Motors, Czech Republic and 48.5 percent stake in its wind energy company.

On Monday, the company said it realised $10.96 million selling Aiva Ashok Leyland and a Rs.6 crore profit selling 48.5 percent stake in Ashok Leyland Wind Energy Ltd.

The Indian commercial vehicles major acquired the Avia truck business in 2006 for around $35 million.

According to Ashok Leyland, consequent to the stake sale in the wind energy company, its holding has gone down to 11.5 percent from the earlier level of 60 percent.