Ashok Leyland dips on post Q4 results
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Ashok Leyland has dipped 4% at Rs 69 on the NSE after reported a standalone net profit at Rs 230 crore for the fourth quarter ended March 2015 (Q4). The commercial vehicle firm had profit of Rs 363 crore for the same period of the previous financial year, which includes one-time gain of Rs 376 crore on account of sale of long-term investments and immovable properties.
Operating profit however jumped by nearly three-fold at Rs 457 crore in March 2015 quarter against Rs 178 crore in a year ago quarter.
Net sales during the quarter under review grew by 47% at Rs 4,436 crore against Rs 3,021 crore in the corresponding quarter of previous fiscal.
The stock opened at Rs 72.30 and touched a low of Rs 68.15 on the NSE. Till 1215 hours, a combined of 20.3 million shares changed hands on the counter on NSE and BSE.
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