Ashok Leyland swings back into profit in Q4 as vehicle sales grow

Ashok Leyland said sales of medium and heavy commercial vehicles rose 10% to 38,643 units

Ashok Leyland posted a net profit in the fourth quarter against a net loss in the same period last year, as the truck maker sold more medium and heavy commercial vehicles.

Net profit stood at Rs 476 crore ($73.72 million) in the quarter ended March 31, compared with a loss of Rs 141 crore, the company said on Thursday.

Analysts on average estimated the company, which is majority-owned by the UK -based Hinduja Group, to post a profit of Rs 434 crore in the March-quarter, Thomson Reuters data showed.

The company said sales of medium and heavy commercial vehicles rose 10 percent to 38,643 units in the quarter.

 

Ashok Leyland shares were up 4.5 per cent as of 0942 GMT.