Ashok Leyland, the automaker informed that total sale fell 37 per cent in February 2020 to 11,475 units from 18,245 units in February 2019. Ashok Leyland’s shares surged 5.37 per cent to Rs 73.60 amid bargain hunting. The stock slumped 17.77 per cent in four sessions to Rs 69.85 on 28 February from its recent closing high of Rs 84.95 recorded on 24 February 2020.
Total sales fell 3.16 per cent from 11,850 units in January 2020. The company’s domestic sales declined 39 per cent to 10,612 units in February 2020 from 17,352 units in February 2019. Ashok Leyland, the flagship of the Hinduja Group, is amongst the largest manufacturer of commercial vehicles in India and also amongst the biggest manufacturers of buses and trucks globally. On a consolidated basis, the company’s net profit slumped 93.3 per cent to Rs 26.79 crore on a 30.5 per cent fall in net sales to Rs 5148.15 crore in Q3 December 2019 over Q3 December 2018.
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