Ashok Leyland share price falls over 8% on Q3 loss

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Shares of the Hinduja Group flagship firm Ashok Leyland fell over 8% on Friday after the commercial vehicle manufacturer reported a net loss of Rs 19.4 crore in the three months ended December as compared with a profit of Rs 27.7 crore a year earlier.

In the most recently ended quarter, its revenue from operations rose 20% to Rs 4,813.5 crore, while its margin contracted 30 basis points to 5.3%, according to an exchange filing.

Ashok Leyland stock opened with a loss of 8.07% today at Rs 124.10, also it’s intraday low against the last close of Rs 135. The stock also hit a high of Rs 135 in today’s trade.

Ashok Leyland share price has fallen 2% in one week. However, the stock has risen 5% in a month and 57% in one year. Year-to-date, the stock is up 38%. Ashok Leyland share is trading higher than 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages.

Market capitalisation of Ashok Leyland stood at Rs 37,604.10 crore. The stock has touched a 52-week high of Rs 138.85 and a 52-week low of Rs 33.70.

“The performance for this quarter, which resulted in a positive EBITDA of 5.3%, was made possible owing to the revenue enhancement and operational efficiency initiatives of the company during challenging times. LCV, aftermarket, defence and power solutions businesses have performed well. The focus on resetting the operating cost to revenues and material cost optimisation will continue,” said Gopal Mahadevan, director and CFO.

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