ICICI Securities Ltd | Retail Equity Research Ashok Leyland's Q3FY18 results came in line with our estimates. Revenues came in at | 7113 crore, up 60,5% YoY, 17.6% QoQ, marginally below our estimate of | 7137 crore Total volumes rose 42% YoY, 14% QoQ to 46653 units with M&HCV; units growing 41% YoY to 35727 units and LCV volumes growing 45% to 10926 units. ASP of ~15.3 lakh was in line with our estimate EBITDA margins were at 11.1% (up 83 bps YoY, 97 bps QoQ) vs. our...