Shares of Ashok Leyland fell almost 2 percent on July 1 after the automaker reported lower-than-expected June auto sales.
The stock was trading at Rs 237.5, down 1.81 percent on NSE at 15:00 pm.
The commercial vehicle (CV)-maker’s total sales in June this year came in at 14,940 units, which was 2 percent lower compared to the June 2023 numbers at 15,221, the firm said in an exchange filing on July 1.
The firm’s total medium and heavy commercial vehicles (M&HCV) sales saw a decline of 4 percent, down from 9,962 units in June 23 to 9,519 in June 2024. Under this segment, the sale of trucks saw 7 percent dip. However, sales in the automaker’s bus segment saw a healthy jump of 8 percent.
The light commercial vehicles segment also posted a 3 percent jump in sales.
In May, the company's net profit rose 16.73 percent to Rs 933.69 crore during the last quarter of the financial year 2023-24 due to strong demand for its products, both in the light and medium commercial vehicle (L&MCV) segments. The Chennai-based automaker’s profit after tax (PAT) during Q4FY23 stood at Rs 800 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
