Ashok leyland net dips 30.2%

Chennai, January 25: | Updated: Jan 26 2002, 05:30am hrs
Commercial vehicle-maker Ashok Leyland on Friday said its net profit has dipped by 30.2 per cent for the third quarter ended December 31, on account of a deferred tax provision of Rs 5.6 crore.

The net profit went down to Rs 13.5 crore from Rs 19.3 crore in the same period of the previous fiscal.

Gross profit was, however, higher by 7.5 per cent at Rs 45.4 crore against Rs 42.2 crore, a company statement said. Net sales turnover declined by 12.7% at Rs 528.6 crore in the October-December quarter as compared to Rs 605.9 crore in the year-ago period.— PTI