New Delhi: One of India’s best selling truck and commercial vehicle manufacturer Ashok Leyland has suffered a downfall in its fourth quarter of 2015. The company’s net profit fell by 67% to Rs. 77 crore and witnessed its share fall by 7%.
Reports and experts believe that Ashok Leyland suffered this loss due to the fall in the value of its investments.
However, amidst the loss, the company’s medium and heavy commercial vehicle sales grew by 34 percent to 35,246 units and light commercial vehicle sales rose by 11 percent to 8,745 units.
Ashok Leyland shares closed 4.28% lower at Rs. 97.25 compared to 2.4% gain in the broader Sensex.
Ashok Leyland Ltd is currently trading at Rs. 99.75, down by 1.95 points on the BSE.