Ashok Leyland slides as total sales slips 8% YoY in July'24

Ashok Leyland slipped 3.62% to Rs 247.80 after the company said that its total vehicle sales declined 8% to 13,928 units in July 2024 from 15,068 units in July 2023.

Domestic sales stood at 12,926 units in July 2024, down 9% as compared with 14,207 units sold in the same period last year.

While total medium and heavy commercial vehicle (M&HCV) sales dropped 12% to 8,440 units while total light commercial vehicle (LCV) sales fell marginally to 5,488 units in July 2024 over July 2023.

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

 

The company reported 6.39% fall in consolidated net profit to Rs 509.15 crore in Q1 FY25 as compared with Rs 543.89 crore in Q1 FY24. Revenue from operations rose 10.66% year on year (YoY) to Rs 10,724.49 crore in the quarter ended June 2024.

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