Commercial vehicle (CV) manufacturer Ashok Leyland (ALL), the flagship company of the Hinduja Group, is back in the black with a profit of Rs 32.09 crore for the quarter ended December, 2014 against a loss of Rs 167.21 crore in the comparable period of the previous fiscal. However, on a sequential basis, net profit was down 73% owing to a higher tax provision. For the nine months of the current fiscal, operating profit was Rs 588.62 crore against a loss of Rs 17.38 crore in the corresponding period of previous fiscal. In the third quarter of the fiscal, ALL recorded a 72% rise in income to Rs 3,361 crore against Rs 1,953.21 crore in the same period last fiscal, riding on 71% growth in medium and heavy commercial vehicles (M&HCV) sales, coupled with better realisation.
The company reported 71% growth in high-value M&HCV sales during the quarter to 18,252 units compared to 10,698 units in the same quarter last fiscal.
