The Hindu : Business : Ashok Leyland Q2 net doubles

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Thursday, Oct 21, 2010
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Ashok Leyland Q2 net doubles

Special Correspondent

CHENNAI: Ashok Leyland has reported a profit of Rs.167.06 crore for the second quarter ended September 30, 2010, against Rs.88.61 crore in the same quarter last year. Revenues have risen to Rs.2,713.95 crore from Rs.1,577.28 crore.

The increase in profit and revenue comes on the back of a record sale of 45,989 vehicles (21,990 vehicles) in the first-half of the current fiscal, which helped in pushing the company's market share in medium and heavy commercial vehicles to over 27 per cent, says a company release.

During the quarter under reference, all vehicle segments witnessed healthy growth. International operations also registered a growth of 39 per cent at 2,350 vehicles (1,695 vehicles).

Profit from operations, before other income, financial expenses and exceptional items, stood at Rs.242.20 crore against Rs.115.07 crore. Other expenses stood at Rs.199.30 crore (Rs.136.21 crore). Financial expenses were also higher at Rs.39.49 crore (Rs.17 crore). Depreciation was higher at Rs.64.06 crore (Rs.50.58 crore).

“With the economy continuing to be strong, industrial productivity remaining steady and freight generating sectors showing robust growth, everything points towards the market remaining bullish going forward,” a release quoted R. Seshasayee, Managing Director, Ashok Leyland, as saying.

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