Ashok Leyland parked in losers

The much awaited earnings of Ashok Leyland were announced on Friday late night. And the markets are disappointed though, given the state of the entire auto sector currently, these numbers were not as bad as expected.

The company posted a 12% (YoY) decline in net profit at Rs.653 crore  and revenue was almost flat, a dip of less than 1% at Rs.8846 crore.

Its FY19 performance was better with a 9% rise in revenue at Rs.29,055 crore and net profit showed a 15% increase at Rs.1983 crore.

The domestic MHCV industry volume in 44 de-grew by 4% for FY 2018-19 to 112469 nos (as per SIAM). Ashok Leyland volumes grew by 1% to 41519 nos in the domestic market. 44 MHCV market share was up at 36.9% as against 35.1% last year.

The market is not too impressed as it figures among the top five losers on the BSE currently, going down almost 4.5% to Rs.89.60. Its 52-week low is at Rs.77.50.