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Ashok Leyland is trading higher by 3% to Rs 48 after reporting a standalone net profit of Rs 121 crore for the second quarter ended September 2014 (Q2), on back of better sales and one-time gain of Rs 109 crore due to profit on sale of immovable assets. Excluding an one-time item, net profit stood at Rs 12 crore.
The company had registered a net loss of Rs 25 crore for the corresponding quarter a year ago.
Net sales rose 26% to Rs 3,218 crore for the second quarter of the current fiscal year (2014-15), as against Rs 2,550 crore in the year-ago period, Ashok Leyland Ltd said in a filing to the BSE.
The stock opened at Rs 48.60 and touched a record high of Rs 49 on BSE. A combined 1.6 million shares changed hands on the counter in early morning deals on BSE and NSE.
The company had registered a net loss of Rs 25 crore for the corresponding quarter a year ago.
Net sales rose 26% to Rs 3,218 crore for the second quarter of the current fiscal year (2014-15), as against Rs 2,550 crore in the year-ago period, Ashok Leyland Ltd said in a filing to the BSE.
The stock opened at Rs 48.60 and touched a record high of Rs 49 on BSE. A combined 1.6 million shares changed hands on the counter in early morning deals on BSE and NSE.
