Ashok Leyland on Wednesday fell as much as 5 per cent to Rs 68.40, a day after it reported a 36 per cent drop in its March quarter net profit. Ashok Leyland announced its earnings for the January-march period after the close of markets on Tuesday.
At 11:51 am, the Ashok Leyland stock was trading near its day low at Rs 68.60, underperforming the broader Nifty and the Sensex which were trading flat.
The Hinduja Group's flagship company Ashok Leyland reported a standalone net profit of Rs 229.97 crore for the quarter ended March 31, 2015 compared to Rs 363.39 crore in the same period last year.
Ashok Leyland on Tuesday informed the stock exchanges that its board has recommended a dividend of Re 0.45 per share of face value of Re 1 each.
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