Ashok Leyland records 27% YoY rise in Feb'23 vehicle sales

Ashok Leyland reported 27% jump in total vehicle sales to 18,571 units in February 2023 from 14,657 units in February 2022.

While medium & heavy commercial vehicles (M&HCV) sales increased by 35% YoY to 12,668 units, total light commercial vehicles (LCV) sales rose by 12% YoY to 5,903 in the month of February.

The company's domestic sales of commercial vehicles during the period under review aggregated to 17,568 units, higher by 32% as compared with the same period last year.

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

The company reported net profit of Rs 361.34 crore in Q3 FY23 compared with net loss of Rs 5.76 crore in Q3 FY22. Net sales jumped 63.3% to Rs 8,984.95 crore in Q3 FY23 as against Rs 5,503.64 crore in Q3 FY22.

The scrip fell 1% to currently trade at Rs 144.05 on the BSE.

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