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India's Ashok Leyland posts Q4 net profit as vehicle sales grow
May 25, 2017 / 9:53 AM / in 5 months

India's Ashok Leyland posts Q4 net profit as vehicle sales grow

May 25 (Reuters) - India’s Ashok Leyland posted a net profit in the fourth quarter against a net loss in the same period last year, as the truck maker sold more medium and heavy commercial vehicles.

Net profit stood at 4.76 billion rupees ($73.72 million) in the quarter ended March 31, compared with a loss of 1.41 billion rupees, the company said on Thursday. (bit.ly/2rTyHuv)

Analysts on average estimated the company, which is majority-owned by the U.K.-based Hinduja Group, to post a profit of 4.34 billion rupees in the March-quarter, Thomson Reuters data showed.

The company said sales of medium and heavy commercial vehicles rose 10 percent to 38,643 units in the quarter.

Ashok Leyland shares were up 4.5 percent as of 0942 GMT. ($1 = 64.5650 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; Editing by Biju Dwarakanath)

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