Ashok Leyland hits fresh high ahead of February sales figures

Shares of Ashok Leyland hit a fresh high of Rs 142, up 3% on the BSE in intra-day trade in otherwise weak market ahead of February sales figures. The commercial vehicles (CV) maker will announce its monthly sales volumes data on Thursday, March 1, 2018.

The stock has outperformed the market by surging 13% thus far in February, after the company reported good sales numbers for the month of January and more-than-doubled net profit in October-December (Q3FY18) quarter. On comparison, the S&P BSE Sensex trading 0.42% lower at 12 pm; was down 5% during the month.

The CV manufacturer posted 22% year on year (YoY) growth in total sales of 18,101 units during January 2018, compared to sales of 14,872 vehicles in the same month last year. It posted nine months sales (April 2017-January 2018) with a nominal surge of 20%.
Ashok Leyland’s net profit grew by 142% YoY to Rs 4.5 billon on back of 60% YoY jump in sales at Rs 71.1 billion, led by volume growth of 42% YoY.