May 18, 2018 / 10:29 AM / in 3 months

Ashok Leyland fourth-quarter profit jumps 40 percent, beats estimates

(Reuters) - India’s Ashok Leyland Ltd posted a 40 percent jump in fourth-quarter net profit on Friday, helped by stronger sales volume.

India's Ashok Leyland Ltd Light Specialist (R) and Field Artillery Tractor vehicles are displayed at the fifth Land and Naval Systems Defence Expo 2008 in New Delhi February 18, 2008.REUTERS/B Mathur/Files

Net profit here was 6.67 billion rupees ($98.03 million) for the quarter ended March 31, compared with 4.76 billion rupees a year earlier.

Analysts on average expected a quarterly profit of 6.42 billion rupees, according to Thomson Reuters data.

The total volume of medium and heavy commercial vehicles sold, including exports, rose 15 percent, while light commercial vehicles posted a 59 percent volume growth.

($1 = 68.0375 Indian rupees)

Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu

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