Ashok Leyland slips 7% after standalone profit before tax slumps 97% in Q2

Early this month, Ashok Leyland said it would observe non-working days ranging from 0-12 days during month of November 2019.

Shares of Ashok Leyland slipped up to 7.2 per cent to Rs 71 in the morning deals on the NSE on Monday, after the company reported weak September quarter earnings. The commercial vehicle major logged a 97 per cent drop in standalone profit before tax at Rs 19.11 crore during Q2FY20, as compared to Rs 670.8 crore during same quarter last year.

At 9:43 AM, the stock was trading 3.2 per cent lower at Rs 74.05. In comparison, the benchmark Nifty50 was 0.19 per cent down at 11,885-mark. Nearly 2.05 shares changed hands on the NSE and BSE till the