Ashok Leyland posts net profit in fourth quarter

Bengaluru: Ashok Leyland posted a net profit in the fourth quarter against a net loss in the same period last year, as the truck maker sold more medium and heavy commercial vehicles.

Net profit stood at 4.76 billion rupees ($73.72 million) in the quarter ended March 31, compared with a loss of 1.41 billion rupees, the company said on Thursday.

Analysts on average estimated the company, which is majority-owned by the U.K.-based Hinduja Group, to post a profit of 4.34 billion rupees in the March-quarter, Thomson Reuters data showed.

The company said sales of medium and heavy commercial vehicles rose 10 percent to 38,643 units in the quarter.