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Our Bureau

Chennai, July 30

Ashok Leyland posted a net profit of Rs 69.18 crore on sales of Rs 1,641.37 crore in the quarter ended June 30, 2006. In the corresponding quarter in the previous year, the company reported a net profit of Rs 64.35 crore on sales of Rs 1,231.91 crore, which included a profit of Rs 30.16 crore on the sale of Ductron Castings Unit (DCU).

Vehicle sales grew 28 per cent to 17,040 units (13,320 units) . Mr R. Seshasayee, Managing Director, Ashok Leyland, was quoted in the release as saying that the results reflect the rising material prices, and in particular rubber prices. He added that volume growth along with changing vehicle mix in favour of higher value multi-axle vehicles and tractor-trailers has helped the company contain this pressure and improve profit before tax by more than 50 per cent (if one-time profit from the Ductron Castings Unit sale last year is not taken into consideration). The company's voluntary retirement scheme compensation was amortised at Rs 3.84 crore (Rs 2.5 crore).

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