CHENNAI: Commercial vehicles major Ashok Leyland has registered a net profit of Rs 32.09 crore for the third quarter of this fiscal year as against the a net loss of Rs 167.21 crore for the same period of the previous fiscal. Revenue for the company has also risen to Rs 3,290.62 crore as against Rs 1,903.28 crore for the same period of the previous fiscal.
According to its MD, Vinod K Dasari, a stable and optimistic business environment, improvement in profitability of fleet owners and the buying spree ahead of the excise duty hike have been the major contributors to revenue this quarter.
“We believe this growth momentum will continue and we should close this fiscal on a good note. We are reasonably confident that the domestic market is indeed coming back and that the worst may be be hind us,” Dasari said.