Shares of Ashok Leyland Ltd were trading in the red and 4% lower on 1 August after the company announced its sales for July 2024.

The manufacturer of commercial vehicles, Ashok Leyland, revealed that its July 2024 overall sales dropped by 8% to 13,928 units from 15,068 units in the same month the previous year.

Ashok Leyland reported a 9% decline in domestic sales to 12,926 units compared to 14,207 units in the same month last year. 

Sales of medium and heavy commercial vehicles fell 14% to 7,685 units from 8,974 units a year ago.

Light commercial vehicle sales remained stable at 5,241 units compared to 5,233 units in the previous year.

In its quarterly earnings for April-June, the company reported a 8.7% year-on-year  in net profit to Rs 525.58 crore for the quarter under review from Rs 576.42 crore reported in the same quarter of the previous fiscal year. 

Revenue from operations of the company during the quarter stood at Rs 8,599 crore, marking a 5% YoY increase against Rs 8,189 crore reported in the corresponding quarter of the previous fiscal year. 

On the operating front, earnings before the interest, tax, depreciation, and amortisation (EBITDA) during the quarter stood at Rs 912 crore, 11.2% YoY against Rs 820 crore reported in the same quarter. EBITDA margins during the quarter expanded to 10.6% in Q1FY25 against 10% reported in Q1FY24.

At 3:30 pm, the shares of Ashok Leyland closed 2.74% lower at Rs 250.05 on NSE.

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