Leyland net profit plunges

CHENNAI: Ashok Leyland has reported 84 per cent drop in its net profit (standalone basis) at Rs. 18.86 crore in the quarter ended December 31, 2008, against Rs. 120.22 crore in the corresponding quarter in the previous year. Net sales were lower at Rs. 1,000.84 crore against Rs. 1,800.08 crore. The company has appointed R. R. Nair as an independent director on the board. — Corporate Reporter

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