Ashok Leyland's Total Sales Rise By 51 Percent YoY In August

Ashok Leyland advanced 3.86 percent to Rs 159.95 after the auto major's total commercial vehicle (CV) sales jumped 51 percent to 14,121 units in August 2022 from 9,360 units sold in August 2021.

Sequentially, the company's total CV sales rose 3.64 percent in August 2022 from 13,625 units sold in July 2022.

While the total sales of medium & heavy commercial vehicles (M&HCV) soared 81 percent to 8,379 units, sales of light commercial vehicles (LCVs) surged 21 percent to 5,742 units in August 2022 over August 2021.

In the domestic market, the company sold 13,301 units of total vehicles in August 2022, up 58 percent compared with 8,400 units sold in the same period last year.

Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.

The company reported a standalone net profit of Rs 68 crore in Q1 FY23 as against a net loss of Rs 282 crore in Q1 FY22. Revenue in the first quarter jumped to Rs 7,223 crore from Rs 2,951 crore recorded in the same period last year.

Source: With Inputs from Capital Market