Ashok Leyland slides as total sales slips 2% YoY in June'24

Ashok Leyland declined 1.26% to Rs 238.70 after the company said that its total vehicle sales fell 1.84% to 14,940 units in June 2024 from 15,221 units in June 2023.

Domestic sales stood at 14,261 units, were lower by 0.71% as compared with 14,363 units sold in the same period last year.

While total medium and heavy commercial vehicle (M&HCV) sales decreased by 4.44% to 9,519 units while total light commercial vehicle (LCV) sales increased by 3.08% to 5,421 units in June 2024 over June 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.

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