Commercial vehicle manufacturer Ashok Leyland on Wednesday reported an increase of 14 per cent in its net profit for the second quarter (Q2) of 2017-18.
According to the company, its net profit during the quarter under review increased to Rs 334.26 crore from Rs 294.41 crore during the like period of the last fiscal.
The flagship company of the Hinduja Group also reported a rise of 31 per cent in its Q2 revenues (excluding excise duty) to Rs 6,046.89 crore from Rs 4,622.41 crore earned during the same period of 2016-17.
The company's export volumes grew by 39 per cent to 4,437 units.
Commenting on the Q2 results, Gopal Mahadevan, CFO, Ashok Leyland said: "Our financial performance continues to be robust... our working capital continues to be in control and debt/equity for the quarter was at 0.35:1. We will continue to pursue profitable growth."
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