BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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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