Ashok Leyland Q2 net slips 19.5%

BS 200 SCORECARD

The commercial vehicle manufacturer Ashok Leyland Ltd closed its second quarter with an 19.5 per cent dip in its net profit at Rs 43.06 crore compared with Rs 53.46 crore posted in the same quarter last year.

"During the quarter, we were hampered by disruption in the operations at one of our Hosur units which has since resumed normal operations. With increased output through productivity improvement, we will be able to fully meet the high market demand in the coming months," R Seshasayee, managing director, Ashok Leyland, explained.

Turnover was higher at Rs 1,047.04 crore (Rs 962.18 crore). It saw a net financial income of Rs 91.1 lakh due to earnings from surplus fund investments. However, gross profit slipped to Rs 87.68 crore (Rs 105.15 crore).

Depreciation inched up to Rs 25.82 crore (Rs 25.07 crore), and profit before tax (before extraordinary item) was Rs 61.85 crore (Rs 80.08 crore).

Amortised VRS compensation climbed to Rs 2.37 crore (Rs 1.76 crore). Provision for taxation was lower at Rs 13.55 crore (Rs 21.04 crore) and it was Rs 2.87 crore for deferred taxation (Rs 3.81 crore).