Shares of Ashok Leyland rose 5% on Thursday after the company reported after-tax profit more than doubled in the third quarter that ended December.

The stock rose 5% to Rs 155.10 on the BSE. On the NSE, it rose 4.94% to Rs 155. In volatile trade, the benchmark 30-share BSE traded 48.36 points higher at 59,756.44.

On Wednesday, Hinduja Group flagship Ashok Leyland reported that its profit after tax in the third quarter ended December was multi-folded to Rs 361 crore on solid sales performance.

The company posted an after-tax profit of Rs 6 crore in the October-December quarter of the previous fiscal.

The company said in a statement that revenue for the quarter is Rs 9,030 crore compared with Rs 5,535 crore a year earlier.

Ashok Leyland said its domestic sales of medium and heavy commercial vehicles rose to 28,221 units, up 69% from a year earlier.

It added that the company’s domestic light commercial vehicle sales rose to 16,405 in the third quarter, up 15% from 14,233 a year ago.