Ashok Leyland posts Rs.32 crore profit

Commercial vehicle major Ashok Leyland Thursday said it has posted a turnover of Rs.3,361 crore and a net profit of Rs.32.09 crore for the third quarter of the current fiscal.

In a statement issued here, the company said it reported a revenue of Rs.3,361 crore for the third quarter -- up from Rs.1,953.21 crore logged during the corresponding period last year.

The net profit, too, increased to Rs.32.09 crore for the period under review from a net loss of Rs.167.21 crore posted during the same period last fiscal.

"This marks a significant turnaround for the company. In addition to our export orders from Sri Lanka and Africa, we are hopeful of making significant inroads into newer markets, maintaining network expansion and also opening small assembly centres in overseas markets like our experience in Ras Al Khaimah (UAE)," Vinod K Dasari, managing director, was quoted as saying in the statement.

"We are today reasonably confident that the domestic market is indeed coming back and that the worst may be behind us," he said.