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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 Rs 476 crore ($73.72 million) in the quarter ended March 31, compared with a loss of Rs 141 crore, 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 Rs 434 crore in the March-quarter, Thomson Reuters data showed.
The company said sales of medium and heavy commercial vehicles rose 10 per cent to 38,643 units in the quarter.
The company has recommended a final dividend of Rs 1.56 a share.
Ashok Leyland shares were up 6.08 per cent or Rs 5 at Rs 87.30 on the BSE.
Also read: How Ashok Leyland got to the nuts and bolts of quality
Ashok Leyland Q3 net down 13% amid topline growth
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