Ashok Leyland Ltd. reported a 12 percent year-on-year growth in total sales for March 2017, ending the financial year with higher sales.
The Hinduja group company sold 18,682 vehicles in March compared to 16,702 in the same month a year ago, it said in a stock exchange filing on Monday. On a cumulative basis, sales rose 3 percent higher to 1,45,066 units in financial year 2016-17 versus 1,40,457 units last year.
The sales growth was primarily driven by the 15 percent increase in sales of medium and heavy commercial vehicles. Light commercial vehicles saw a marginal 1 percent drop in sales growth to come at 3,424 units.
In a separate media statement, the company called the Supreme Court's ban on Bharat-Stage III (BS-III) compliant vehicles an "unexpected outcome" and said it is currently working on minimising the impact of this decision.
The apex court on March 29 barred the sale of vehicles compliant with BS-III emission norms beyond March 31, in a blow to dealers and automakers who had an inventory of nearly eight lakh such two-wheelers, trucks and cars, according to industry body Society of Indian Automobile Manufacturers (SIAM), at the time the order was passed.
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