Ashok Leyland Q3 net up 1.6% | Latest News India - Hindustan Times

Ashok Leyland Q3 net up 1.6%

None | ByPress Trust of India, New Delhi
Jan 31, 2006 07:00 PM IST

Ashok Leyland reported a marginal 1.6% rise in net profit for the quarter ended December 31, 2005.

Commercial vehicle maker Ashok Leyland reported a marginal 1.6 per cent rise in net profit for the quarter ended December 31, 2005, at Rs 54.5 crore against Rs 53.6 crore in the corresponding period last fiscal.

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Sale of vehicles for the company saw a similar growth in the quarter at 13,038 units (12,831 units) and the company said this was subdued due to "impact of excessive monsoons in the company's strong markets."

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Turnover in the third quarter, however, rose 21.8 per cent to Rs 1,202.4 crore (Rs 987.1 crore).

Gross operating margin, at Rs 116 crore (Rs 101.9 crore) improved 13.9 per cent, the Hinduja group flagship company said. "Net of the impact of foreign exchange fluctuations, our operating margins for the quarter are up by more than 200 basis points. Clearly, the on-going cost control measures have stood us in good stead," company Managing Director R Seshasayee said.

"After the monsoon-induced slowness, our markets have revived in January. We expect this buoyancy to continue," he said.

During April-December 2005 period, the company's turnover grew 29.1 per cent to Rs 3,515.7 crore. Net profit for this period registered a 50.7 per cent rise to Rs 193.8 crore against Rs 128.6 crore.

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