Net profit of Ashok Leyland declined 21.45% to Rs 380.84 crore in the quarter ended December 2018 as against Rs 484.86 crore during the previous quarter ended December 2017. Sales declined 11.43% to Rs 6245.21 crore in the quarter ended December 2018 as against Rs 7051.49 crore during the previous quarter ended December 2017.

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Ashok Leyland has completed the acquisition of 4,50,005 shares of Rs 10 each constituting 11.25% in the paid up share capital of Ashley Aviation. Consequent to the said acquisition, the company's shareholding in Ashley Aviation stands increased from 88.75% to 100% making it a wholly owned subsidiary of the company.

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The announcement was made during trading hours today, 1 February 2019.

Meanwhile, the S&P BSE Sensex was up 404.24 points, or 1.11% to 36,660.93.

On the BSE, 30.53 lakh shares were traded in the counter so far compared with average daily volumes of 16.73 lakh shares in the past two weeks. The stock had hit a high of Rs 87.15 and a low of Rs 80.85 so far during the day.

Ashok Leyland's sales of light commercial vehicles (LCV) rose 13% to 5,047 units, while total sales of medium & heavy commercial vehicles (M&HCV) rose 8% to 14,694 units in January 2019 over January 2018.

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Ashok Leyland will hold a meeting of the Board of Directors of the Company on 14 February 2019.

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