Date:23/10/2005 URL: http://www.thehindubusinessline.com/2005/10/23/stories/2005102302660100.htm

Back Ashok Leyland Q2 net up 74% at Rs 75 cr

Our Bureau

Chennai , Oct. 22

ASHOK Leyland has reported a 37 per cent increase in sales and a 74 per cent rise in net profit for the second quarter of the current year.

The company's turnover stood at Rs 1,441.19 crore compared to Rs 1,047.04 crore for the corresponding quarter of last year.

Its net profit was Rs 75 crore (Rs 43 crore).

The company's performance in the quarter was aided by a 26.6 per cent growth in domestic sales in September, when it sold 5,284 trucks. In the first six months of the current year, the company sold 28,215 vehicles, its best ever first half-year sales performance — and 20 per cent more than in the year-ago period.

Ashok Leyland's turnover in the first half was Rs 2,673.90 crore against Rs 1,990.66 crore in the corresponding period last year — a 34 per cent rise.

Net profit increased to Rs 139.35 crore from Rs 74.99 crore, or 85 per cent, but the profit for the current period includes the Rs 30-crore profit on sale of Ductron Castings to Ennore Foundries Ltd, which was booked in the first quarter.