Hinduja Group flagship company Ashok Leyland net profit has declined by 7.76% to Rs 154.08 crore for the second quarter ended September 30, 2011, due to higher expenses.
The company had posted a net profit of Rs 167.05 crore in the same period last fiscal, Ashok Leyland said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company, however, rose to Rs 3,094.57 crore for the second quarter, as against Rs 2,713.95 crore in the same period previous fiscal.
During the quarter under review the company's total expenditure, including employee cost, stood at Rs 2,849.34 crore, as against Rs 2,473.17 crore in the same period previous fiscal.
For the six months ended September 30, 2011, the company reported net profit of Rs 240.33 crore, as against Rs 289.70 crore in the same period previous fiscal.
Shares of Ashok Leyland today closed at Rs 27.05 on the BSE, up 0.74% from its previous close.
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