Hinduja group flagship Ashok Leyland on Thursday reported over six-fold increase in standalone net profit to Rs. 198.62 crore for the third quarter ended December 31, 2015-16, riding on robust sales of commercial vehicles. The company had posted a standalone net profit of Rs. 32.09 crore in the same period last fiscal, Ashok Leyland said in a BSE filing.
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 of Ashok Leyland ended the day at Rs. 81.10 apiece, down 7.16 per cent from the previous close on BSE.
