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2 years ago
BUZZ-India's Ashok Leyland recovers; margins rise on inventory related adjustments
August 12, 2015 / 8:43 AM / 2 years ago

BUZZ-India's Ashok Leyland recovers; margins rise on inventory related adjustments

** Ashok Leyland shares recover 3 pct from intraday low after April-June earning beat estimates

** June-quarter net profit 1.59 bln rupees vs loss 479.5 mln rupees year ago on higher than expected margins

** EBITDA margins at 10.1 pct came ahead of estimates but were driven by inventory related adjustments in raw material cost - Analysts

** Change in inventories has a credit of 2.47 bln rupees in April-June compared to a credit of 1.72 mln in same quarter of last year - company filing (RM: abhishek.vishnoi.thomsonreuters.com@reuters.net)

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