Ashok Leyland Q4 profit at Rs476 crore as vehicle sales grow
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Bengaluru: India’s Ashok Leyland posted a net profit in the fourth quarter against a net loss in the same period last year, as the truck maker sold more medium and heavy commercial vehicles.
Net profit stood at Rs476 crore ($73.72 million) in the quarter ended 31 March, compared with a loss of Rs141 crore, the company said on Thursday.
Analysts on average estimated the company, which is majority-owned by the UK-based Hinduja Group, to post a profit of Rs434 crore in the March-quarter, Thomson Reuters data showed.
The company said sales of medium and heavy commercial vehicles rose 10% to 38,643 units in the quarter. Reuters