Ashok Leyand shares climb 5% after firm reports jump in Q3 profits

Shares of Ashok Leyand on Thursday climbed 5 per cent after the firm reported a multi-fold jump in its profit after tax for the third quarter ended December.

The stock climbed 5 per cent to Rs 155.10 on the BSE.

At the NSE, it advanced 4.94 per cent to Rs 155.

In a volatile trade, the 30-share BSE benchmark traded 48.36 points higher at 59,756.44.

Hinduja group flagship Ashok Leyand on Wednesday reported a multi-fold jump in its profit after tax at Rs 361 crore for the third quarter ended December, aided by robust sales.

The company had posted a profit after tax of Rs 6 crore in the October-December quarter of previous fiscal.

Revenues for the quarter stood at Rs 9,030 crore over Rs 5,535 crore in the year-ago period, the company said in a statement.

Ashok Leyland said its domestic Medium and Heavy Commercial Vehicle volume rose to 28,221 units, up 69 per cent, over the same period last year.

The company's domestic LCV volumes for the third quarter rose to 16,405 units, up 15 per cent from 14,233 units a year ago, it added.