Ashok Leyland has dipped 5% to Rs 16.55 ahead of its April-June (Q1FY14) quarter earnings today. The stock opened at Rs 17.30 and hit a low of Rs 16.20, its lowest value since August 2009, on BSE. A combined 4.75 million shares have changed hands on the counter till early noon deals on BSE and NSE.
Analysts on an average expected, Ashok Leyland to report a net loss of Rs 61 crore for the quarter ended June 2013 against profit of Rs 67 crore in a year ago quarter. Net sales may decline by 21% year-on-year (yoy) to Rs 2,374 crore following an around 21% yoy drop in volumes.
“On the operating front, we expect EBITDA (earnings before interest, tax, depreciation and amortization) margins to witness a sharp contraction of around 350 bp yoy to 4.5% for the quarter due to adverse product-mix and lower utilization levels,” says analyst at Angel Broking in a note.
Analysts on an average expected, Ashok Leyland to report a net loss of Rs 61 crore for the quarter ended June 2013 against profit of Rs 67 crore in a year ago quarter. Net sales may decline by 21% year-on-year (yoy) to Rs 2,374 crore following an around 21% yoy drop in volumes.
“On the operating front, we expect EBITDA (earnings before interest, tax, depreciation and amortization) margins to witness a sharp contraction of around 350 bp yoy to 4.5% for the quarter due to adverse product-mix and lower utilization levels,” says analyst at Angel Broking in a note.
