Shares of Ashok Leyland Ltd fell on Tuesday after the company reported total vehicle sales of 15,333 units in June, up 3% year-on-year but slightly below analyst expectations.
A CNBC-TV18 poll had projected total sales of 15,374 units for the month.
The news sent shares of the company down as much as 1.4% as at 2:44 pm. It was trading at a price of ₹666.50 on the BSE today.
Sales in the medium and heavy commercial vehicle (M&HCV) segment rose 3% to 9,829 units, while light commercial vehicles (LCV) increased 2% to 5,504 units.
Domestic sales, however, showed a 1% decline at 14,184 units, with M&HCV truck sales down 12% and bus sales rising 42%.
The exports and domestic combined bus segment saw a sharp 56% jump in sales to 3,172 units, helping offset declines in truck sales.
For the April–June quarter, total sales stood at 44,238 units, marginally up 1% from the same period last year.
Ashok Leyland, part of the Hinduja Group, is one of India’s largest manufacturers of medium and heavy commercial vehicles. The company’s monthly performance is closely tracked as a key indicator of infrastructure and logistics demand in the country.
