Ashok Leyland hits record high after total sales jumps 12% YoY in May'24

Ashok Leyland rallied 3.39% to Rs 231.60 after the company's total vehicle sales jumped 12% to 14,682 units in May 2024 from 13,134 units in May 2023.

Domestic sales stood at 13,852 units, were higher by 12% as compared with the same period last year.

While total medium and heavy commercial vehicle (M&HCV) sales increased by 12% to 9,243 units, total light commercial vehicle (LCV) sales increased by 12% to 5,439 units in May 2024 over May 2023.

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

Ashok Leyland reported 19.82% jump in standalone net profit to Rs 900.41 crore in Q4 FY24 as compared with Rs 751.41 crore in Q4 FY23. Revenue from operations fell 3.08% to Rs 11,266.69 crore in Q4 FY24 as compared with Rs 11,625.67 crore posted in corresponding quarter last year.

The scrip hit an all-time high at Rs 236.35 in todays intraday session.

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