Ashok Leyland seems in top gear with market share, margin gains

Net sales at Rs 6,618 crore were up 11% over the year-ago quarter

Ashok Leyland ended FY17 on a strong note, delivering better than estimated financials for the quarter ended March. The strong results saw the stock gain 4.6 per cent in trade on Thursday.

Boosted by higher volumes and realisations, net sales at Rs 6,618 crore were up 11 per cent over the year-ago quarter and better than the consensus estimate of Rs 6,515 crore.

A major part of the volume gain came from the medium and heavy commercial vehicle (M&HCV) segment, which grew by nearly 10 per cent. Light CVs, lagging, were up two per cent. The higher