Ashok Leyland leaps 10% post Q1 nos; Co expects margin to improve ahead

In a post-earnings conference call, the company said that demand has picked up

Shares of Ashok Leyland surged 10 per cent to Rs 59.30 on the BSE on Thursday after the company said it expects Q3 and Q4 of financial year 2020-21 (FY21) to be better than the previous quarters while margins are also expected to rise going ahead.

Meanwhile, the company reported a consolidated net loss of Rs 388.82 crore for the first quarter ended June 30, owing to the coronavirus pandemic. In comparison, the commercial vehicle maker had posted a net profit of Rs 274.96 crore in Q1FY20.

Revenue from operations in April-June 2020 significantly declined to Rs1,486.04 crore as compared with Rs