Ashok Leyland shares fell over 3 per cent on November 4 after it reported a marginal decline in October sales.
As of 11:10 am, the stock was trading 2 per cent lower at Rs 204. Though it has gained 10 per cent so far this year, in line with the performance of the Nifty 50, Ashok Leyland has posted monthly losses from August to October.
The company reported total vehicle sales of 15,310 units in October 2024, a decline of 9 per cent as compared to 16,864 units in October 2023. Domestic sales declined 11 per cent to 14,067 units as compared to 15,759 units sold in the previous year. Medium and heavy commercial vehicle (M&HCV) sales also declined 8 per cent to 9,408 units, while light commercial vehicle (LCV) sales fell 12 per cent year-on-year to 5,902 units.
Total sales of medium and heavy commercial vehicle (M&HCV) trucks declined 12 per cent to 7,455 units in October 2024 as against 8,454 units a year ago. Meanwhile, sales of M&HCV buses grew 13 per cent year-on-year to 1,953 units as against 1,731 units in the same period last year.
Ashok Leyland, a leading player in the commercial vehicles sector, also manufactures engines for industrial and marine applications, with a product range that includes buses, trucks, engines, defence and special vehicles.
The company’s standalone net profit declined 8.7 per cent to Rs 525.58 crore in Q1 FY25. However, revenue from operations witnessed a 5 per cent year-on-year growth for the April-June period and stood at Rs 8,599 crore as against Rs 8,189 crore in the same quarter last year.
