Total domestic sales dipped 41.5 percent to 10,850 units YoY in January 2020, against 18,533 units in January 2019.
Ashok Leyland share price declined nearly 3 percent intraday on February 3 after the company reported lower-than-expected sales numbers for January.
The company sold 11,850 units in January 2020, down 40 percent compared to 19,741 units sold in the same month last year, due to subdued demand despite heavy discounts.
Japanese brokerage firm Nomura had expected sales at 11,900 units for the month.
Total domestic sales dipped 41.5 percent to 10,850 units YoY in January 2020, against 18,533 units in January 2019.
Medium and heavy commercial vehicle (M&HCV) sales plunged 47 percent to 7,754 units, while light commercial vehicle sales declined 19 percent to 4,096 units.
At 1356 hours Ashok Leyland was quoting at Rs 76.65, down Rs 0.35, or 0.45 percent on the BSE.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.First Published on Feb 3, 2020 01:54 pm
