Monday 11 November 2019

Share Price Of Auto Major Ashok Leyland Tanked Over 5 Percent

Share price of auto major Ashok Leyland tanked over 5 percent at open on November 11 after the company reported a massive 92.6 percent year-on-year decline in its net profit at Rs 38.9 crore for the second quarter ended September 30, 2019. It had posted a net profit of Rs 527.7 crore in the year-ago period.

The company posted one-time loss of Rs 64.8 crore in Q2FY20 against loss of Rs 19.3 crore in corresponding period last fiscal, due to expenses on voluntary retirement scheme and provision for obligation relating to a subsidiary.

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