New Delhi: Hinduja group flagship Ashok Leyland on Thursday reported an over six-fold increase in standalone net profit to Rs 198.62 crore for the fiscal third quarter that ended on December 31, 2015, riding on robust sales of commercial vehicles.
The company had posted a standalone net profit of Rs 32.09 crore for the corresponding period a year ago, it said in a filing to the BSE.
Net sales during the period under review stood at Rs 4,029.45 crore as against Rs 3,290.62 crore in the year-ago period, up 22.45 per cent.
Ashok Leyland managing director Vinod Dasari said, "With yet another successful quarter performance, Ashok Leyland is well on path to sustained profitability."
He said new products which were showcased at the recently concluded Auto Expo will provide a further fillip to growth.
Continued focus on R&D, new product development, network expansion, continued focus on costs and expansion in to new international markets along with positive domestic growth augurs well for the future, he added.
Shares in Ashok Leyland, on Thursday, ended 7.16 per cent lower at Rs 81.10 apiece on the BSE, whose benchmark Sensex index finished down 3.40 per cent.
The company had posted a standalone net profit of Rs 32.09 crore for the corresponding period a year ago, it said in a filing to the BSE.
Net sales during the period under review stood at Rs 4,029.45 crore as against Rs 3,290.62 crore in the year-ago period, up 22.45 per cent.
Ashok Leyland managing director Vinod Dasari said, "With yet another successful quarter performance, Ashok Leyland is well on path to sustained profitability."
He said new products which were showcased at the recently concluded Auto Expo will provide a further fillip to growth.
Continued focus on R&D, new product development, network expansion, continued focus on costs and expansion in to new international markets along with positive domestic growth augurs well for the future, he added.
Shares in Ashok Leyland, on Thursday, ended 7.16 per cent lower at Rs 81.10 apiece on the BSE, whose benchmark Sensex index finished down 3.40 per cent.
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