Ashok Leyland net dips on interest costs, forex volatility

Hinduja Group flagship Ashok Leyland witnessed drop in net profit for its second quarter primarily due to doubling of interest costs and losses on account of foreign exchange fluctuations.

Sales were higher. Raw material cost as a percentage of net sales during the quarter increased to 89 per cent against 82 per cent during the same period last year. The company�s Managing Director, Mr R. Seshasayee, has said in a press release that Ashok Leyland was able to get price increase despite demand contraction. More
Courtesy: indiacar.net

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