Ashok Leyland’s net profit down 29.67 percent in Q1

July 19th, 2011 - 5:01 pm ICT by IANS  

New Delhi, July 19 (IANS) Indian automobile major Ashok Leyland Tuesday reported a 29.67 percent fall in its net profit in the first quarter of the current fiscal - down to Rs.86.25 crore from Rs.122.64 crore in the corresponding quarter of 2010-11.

The company, reeling under rising input costs and high interest rates, reported an increase of 6.28 percent in its net sales for the quarter under review at Rs.2,495.5 crore from Rs.2,347.97 crore in the like period of last fiscal.

The company’s input costs increased by 13.44 percent in the first quarter at Rs.1,960.63 crore from Rs.1,728.32 crore in the first quarter of 2010-11, the company said in a filing at the Bombay Stock Exchange (BSE).

The company’s scrip at the BSE was down 2.59 percent at Rs.50.75 in the intra-day trade.

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