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BUSINESS / ECONOMY

Ashok Leyland posts 10% month-on-month sales rise in December

Mumbai, Jan 2 (IANS) Stocks of commercial vehicle marker jumped nearly 4 per cent on the BSE after the company reported a 10 per cent month-on-month rise in its sales in December over November 2019.

The sales of commercial vehicles are often considered to be a proxy for the industrial health of the economy.

Ashok Leyland sold 11,168 units in the domestic and overseas markets in December. However, on a year-on-year (YoY) basis, the company’s sales fell almost 28 per cent as it had sold 15,490 units in December 2018.

While last month’s sales crashed by 38 per cent to 7,025 units, as compared to 11,292 units in December 2018 in the medium and heavy commercial vehicle segment, they slipped 1 per cent to 4,143 units in December 2019, against 4,198 units sold in December 2018 in the light commercial vehicle segment.

–IANS

ravi/bc

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