Ashok Leyland shares rise as May sales jump 12%

3 Jun 2024 , 02:00 PM

Ashok Leyland reported a 12% increase in total vehicle sales in May 2024. Following the news, the stock price has increased trading at ₹236.80, which is a 5.7% gain than the previous close.

Total vehicle sales rose to 14,682 units from 13,134 units in May 2023. Domestic sales climbed 12% to 13,852 units, compared to the same period last year.

Medium and heavy commercial vehicle (M&HCV) sales increased by 12%, reaching 9,243 units. Light commercial vehicle (LCV) sales also rose by 12%, totaling 5,439 units in May 2024.

Ashok Leyland produces a variety of commercial vehicles and also manufactures engines for industrial and marine applications, as well as forgings and castings.

The company reported a 19.82% increase in standalone net profit for Q4 FY24, reaching ₹900.41 Crore, up from ₹751.41 Crore in Q4 FY23. Revenue from operations fell by 3.08% to ₹11,266.69 Crore in Q4 FY24, down from ₹11,625.67 Crore in the same quarter last year.

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