Hinduja group company, Ashok Leyland, has reported a 55.8 per cent growth in net profit to Rs 67 crore for the third quarter ended December 31, 2011, as compared with Rs 43 crore during the same period a year ago. Revenues rose 29.3 per cent to Rs 2,880 crore from Rs 2,227 crore.
Employee cost rose 12 per cent to Rs 272 crore from Rs 244 crore.
“Despite a substantial improvement in our quarterly sales and profits, the third quarter was a challenging one due to a few supply chain issues,” said Vinod K Dasari, managing director of Ashok Leyland. “These have since been resolved. The STU (State Transport Undertaking) demand was weaker in the third quarter but is expected to bounce back in the fourth quarter,” he added.
