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ICICI Direct Report
Ashok Leyland Ltd. reported steady Q2 FY22 results; broadly on expected lines.
Standalone operating income was up 51% QoQ to Rs 4,458 crore. Ebitda was at Rs 135 crore with margins at 3.0% versus 3.6% in Q2 FY21. Consequent loss after tax came in at Rs 83 crore.
Ashok Leyland's board approved;
sale of electric vehicle business to its subsidiary i.e. Switch Mobility on slump sale basis and
transfer of e-mobility as-a-service business to Ohm Global Mobility Pvt Ltd., India, on slump sale basis, to be eventually housed under switch mobility with majority stake.
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