Ashok Leyland Q3 net profit dips 13% to Rs 185.88 cr

The company said that Q3 has been quite challenging due to the steep increase in material cost

Ashok Leyland Ltd has posted a decline of 13% in net profit to Rs 185.88 crore for the quarter ended December 31, 2016, as compared to Rs 213.70 crore for the quarter ended December 31, 2015.

Vinod K Dasari, managing director and CEO, Ashok Leyland said that the third quarter has been quite challenging for the industry primarily due to the steep increase in material cost.

Demonetisation had an impact and the industry is recovering from it. Despite these challenges, the company has maintained healthy operating margins.

He expects pre-buy in the fourth quarter owing to BS-IV implementation in 2017-18