Date:24/10/2008 URL: http://www.thehindu.com/2008/10/24/stories/2008102461371500.htm

Business

Ashok Leyland’s Q2 sales up

Corporate Reporter

CHENNAI: Hinduja Group flagship Ashok Leyland registered a sale revenue of Rs. 1,866.40 crore in July-September 2008, up 6.9 per cent over Rs. 1,745.89 crore in the second quarter of the last fiscal.

However, financial expenses grew to Rs. 24.57 crore (Rs.12.63 crore) and unrealised loss on restatement of foreign currency assets and liabilities amounted to Rs. 14.35 crore against a gain of Rs. 4.62 crore last year.

The net profit for the quarter was down 16.4 per cent to Rs. 67.24 crore (Rs. 80.33 crore).

Sumantran on the board

At the meeting of the Board of Directors, V. Sumantran was appointed as a Director on the Board. Mr. V. Sumantran is Executive Vice Chairman of Hinduja Automotive UK and Chairman of Nissan Ashok Leyland Powertrain Pvt. Ltd.