Ashok Leyland India’s second largest commercial vehicle-maker, sold lower-than-expected 8,780 units in September, a sharp drop of 55 percent compared to the 19,374 vehicles sold in the same month in 2018.
Nomura had expected a sale of 9,982 units.
The company’s medium and heavy commercial vehicle sales dropped 67 percent year-on-year to 4,744 units and light commercial vehicle dipped 21 percent to 4,036 units compared to the same month last year, Ashok Leyland told the BSE.
Total domestic sales were down by 57 percent YoY to 7,851 units in September.
The stock was quoting at Rs 66.40, down Rs 2.35, or 3.42 percent, on the BSE at 1210 hours.
News Source:- Moneycontrol