Ashok Leyland tanks 8 pc after Q3 net loss

Shares of Ashok Leyland on Friday tumbled 8 percent after the company reported a net loss of Rs 19 crore for the third quarter ended December 31, 2020.

The stock tanked 8 percent to Rs 124.10 on BSE. On NSE, it plunged 6.77 percent to Rs 125.90.

The company had reported a net profit of Rs 28 crore in the October-December quarter of 2019-20.

The revenues for the third quarter on a standalone basis stood at Rs 4,814 crore as compared with Rs 4,016 crore in the year-ago period, Ashok Leyland said in a statement.

The company said its domestic light commercial vehicle (LCV) volumes during the third quarter stood at 15,991 units, up 3 percent from 12,574 units in the same period of the previous fiscal.

Export volumes during the period under review stood at 2,941 units, up 24 percent from 2,371 units in the October-December period of 2019-20.