Ashok Leyland advanced 3.86% to Rs 159.95 after the auto major's total commercial vehicle (CV) sales jumped 51% to 14,121 units in August 2022 from 9,360 units sold in August 2021.
Sequentially, the company's total CV sales rose 3.64% in August 2022 from 13,625 units sold in July 2022.
While the total sales of medium & heavy commercial vehicles (M&HCV) soared 81% to 8,379 units, sales of light commercial vehicles (LCVs) surged 21% to 5,742 units in August 2022 over August 2021.
In the domestic market, the company sold 13,301 units of total vehicles in August 2022, up 58% compared with 8,400 units sold in the same period last year.
Meanwhile, the media reports suggested that the company bagged orders from major fleets for 1,400 school buses in UAE- the company's reportedly largest ever supply of school buses in UAE.
As per reports, the 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland's manufacturing facility in Ras Al Khaimah, UAE, which is reportedly the only certified local bus making facility in the entire GCC.
According to media reports, the Ras Al Khaimah plant is a joint venture between Ashok Leyland and the Ras Al Khaimah Investment Authority (RAKIA), UAE, and has an installed capacity of 4,000 buses a year. The total fleet deal for the GCC made buses has been bagged by Ashok Leyland's UAE distribution partners, Swaidan Trading - Al Naboodah Group, the reports added.
Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.
The company reported a standalone net profit of Rs 68 crore in Q1 FY23 as against a net loss of Rs 282 crore in Q1 FY22. Revenue in the first quarter jumped to Rs 7,223 crore from Rs 2,951 crore recorded in the same period last year.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app