February 14, 2019 / 10:01 AM / 5 months ago

Ashok Leyland third-quarter profit falls, but beats expectations

FILE PHOTO: 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

(Reuters) - Automaker Ashok Leyland Ltd posted a 21.5 percent fall in its third-quarter profit on Thursday, hurt by weak consumer demand.

Profit fell to 3.81 billion rupees ($53.56 million) for the three months ended Dec. 31, compared with 4.85 billion rupees a year earlier, the company said.

Analysts on average had expected the company to post a profit of 2.76 billion rupees, according to Refinitiv data.

Income from operations dipped 11.4 percent to 62.45 billion rupees.

($1 = 71.1360 rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Shreejay Sinha

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