Ashok Leyland second-quarter profit up 14 percent, misses estimates

Ashok Leyland Ltd reported an about 14 percent increase in quarterly profit on Wednesday, helped by higher exports, but missed street estimates.

Profit for the quarter ended Sept. 30 stood at 3.34 billion rupees ($51.35 million) versus 2.94 billion rupees a year ago.

Revenue from operations rose about 23 pct to 60.47 billion rupees.

Analysts estimated profit to come in at 3.92 billion rupees, according to Thomson Reuters data.

Quarterly export volumes grew 39 percent, while light commercial vehicle volumes increased 18 percent.

($1 = 65.0500 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)