Ashok Leyland Soars Over 6% On Turnaround In March Quarter Earnings

Ashok Leyland reported a net profit of Rs 241.17 crore in the quarter ended March 2021 as against a loss of Rs 57.32 crore in the corresponding quarter last year

Ashok Leyland Soars Over 6% On Turnaround In March Quarter Earnings

At 11:30 am, Ashok Leyland shares were trading higher by 6.47 per cent on the BSE

Ashok Leyland shares soared more than 6 per cent in a flat market after the auto company reported a turnaround in the March quarter. Ashok Leyland reported a net profit of Rs 241.17 crore in the quarter ended March 2021 as against a loss of Rs 57.32 crore in the corresponding quarter last year. At 11:30 am, Ashok Leyland shares were trading at Rs 125.85, higher by 6.47 per cent, on the BSE.

Ashok Leyland's profit before tax (PBT) during the March quarter stood at Rs 314 crore as against a loss of Rs 72 crore for the same period last year, the company said in a regulatory filing to the stock exchanges.

The EBITDA stood at 7.6 per cent in the quarter under consideration as against 4.8 per cent in the same quarter last year.

The company's board has recommended a final dividend of 0.60 paise per share for the financial year ended March 31, 2021.

The BSE Sensex was trading at 52,741.20, higher by 40 points and the NSE Nifty was at 15,812.90, up 23.25 points at the time.