Ashok Leyland posts lower than expected growth, net profit rises 37.4%

Some of the analysts were also expecting a revenue of over Rs 77 billion

Commercial Vehicle major Ashok Leyland Ltd (ALL) has registered a growth of 37.4 per cent in net profit for the second quarter of the fiscal, lower than the expectations of many of the analysts.  

The company has posted a net profit of Rs 4.59 billion as compared to Rs 3.34 billion same quarter last year. The total income has seen a growth of 24.5 per cent at Rs 76.36 billion during the quarter as against Rs 61.32 billion during the same quarter last year.

The brokerage firm was expecting the net profit to be at around Rs 5.09 billion-Rs