Shares of Ashok Leyland drop after February exports fall by 27%

1 Mar 2023 , 03:40 AM

The share price of Ashok Leyland decreased by about 1% today when the business reported that exports fell by 27.1% while sales increased by 27% in February.

The company sold 18,571 automobiles in February, a significant increase of 27% over the same month last year, mostly due to domestic performance.

Domestic vehicle sales rose 32% to 17,568 units, with sales of medium and heavy commercial vehicles rising 42% year over year to 11,767 units.

Light commercial vehicle sales volumes grew by 12% YoY to 5,903 cars, and the company sold 12,668 units of medium and heavy commercial vehicles, claiming a 35% gain over the same month last year.

1,003 automobiles were exported by the company in a given month, a decrease of 27.1% from 1,376 at the same time last year. Only 5.4% of the selling volumes are exported.

1.68 lakh vehicles were sold by Ashok Leyland between April and February, a 56% increase over the same time frame the previous year.

1.58 lakh vehicles were sold domestically, up 60% year over year, while 10,248 vehicles were exported, up 8.5%.

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