Ashok Leyland surges; oper profit beats estimates

Reuters Market Eye - Shares of Ashok Leyland Ltd surged as much as 13.66 percent to their highest in more than two years after the company's January-March operating profit of 1.84 billion rupees ($31.5 million) beat some analysts estimates.

The commercial vehicles maker posted an operating loss of 969 million rupees in the October-December quarter, according to Reuters calculations based on the results.

The company made a net profit of 3.63 billion rupees in its fourth quarter ended March, compared with 1.50 billion rupees a year earlier.

(Reporting by Abhishek Vishnoi)