Ashok Leyland posts 7% YoY decline in monthly sales, shares drop 2%

Ashok Leyland has reported a 7% decline in total sales at 14,463 units in August 2024 as compared to 15,576 units in the same month last year. Domestic sales were down 8%t at 13,347 units against 14,545 units in August 2023.

In the domestic market, sales of medium and heavy commercial vehicles were at 7,790 units against 9,013 units in the year-ago period, down 14%. Light commercial vehicle sales in the domestic market last month were flat at 5,557 units as against 5,532 units in the year-ago period.

Total sales of medium and heavy commercial vehicles were at 8,663 units against 9,763 units in the year-ago period, down 11%. Total light commercial vehicle sales in last month were flat at 5800 units as against 5813 units in the year-ago period.

The total revenue for the quarter stood at ₹8598 crore. The Company's Net profit for the June 2024 quarter declined marginally to ₹525 crore as against ₹576 crore reported during the corresponding quarter last year. On the operational front, the company witnessed a marginal growth in operating profit to ₹ 933 crore from ₹871 crore in the same quarter last year.

Ashok Leyland, the Hinduja Group's flagship company in India, manufactures commercial vehicles and related components. The company’s products include buses, trucks, engines, defence, and special vehicles.