Ashok Leyland shares fall nearly 3 pc after Q4 earnings

Shares of Ashok Leyland on Friday closed nearly 3 per cent lower after the company reported a 92.31 per cent decline in consolidated net profit for the March quarter. The Hinduja Group flagship firm on Thursday reported a 92.31 per cent decline in consolidated net profit at Rs 57.78 crore in the fourth quarter ended on March 31.

Shares of Ashok Leyland on Friday closed nearly 3 per cent lower after the company reported a 92.31 per cent decline in consolidated net profit for the March quarter. The stock declined 2.24 per cent to close at Rs 52.35 on the BSE. During the day, it slumped 4.76 per cent to Rs 51.

On the NSE, it fell 2.61 per cent to close at Rs 52.05. In terms of volume, 44.36 lakh shares were traded on the BSE and 7.57 crore on the NSE. The Hinduja Group flagship firm on Thursday reported a 92.31 per cent decline in consolidated net profit at Rs 57.78 crore in the fourth quarter ended on March 31. The company had posted a net profit of Rs 751.71 crore in the same quarter of previous fiscal, it said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 5,088.04 crore as against Rs 9,874.04 crore in the year-ago period..