May 18, 2018 / 10:13 AM / 3 months ago

India's Ashok Leyland Q4 profit jumps 40 pct, beats estimates

May 18 (Reuters) - India’s Ashok Leyland Ltd posted a 40 percent jump in fourth-quarter net profit on Friday, helped by stronger sales volume.

Net profit here was 6.67 billion rupees ($98.03 million) for the quarter ended March 31, compared with 4.76 billion rupees a year earlier.

Analysts on average expected a quarterly profit of 6.42 billion rupees, according to Thomson Reuters data.

The total volume of medium and heavy commercial vehicles sold, including exports, rose 15 percent, while light commercial vehicles posted a 59 percent volume growth. ($1 = 68.0375 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

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