OREANDA-NEWS. Ashok Leyland, flagship of the Hinduja Group, reported revenues of Rs. 3361.00 crores, as against Rs. 1953.21 crores for the corresponding period last year.

Net profit stood at Rs. 32.09 crores for Q3, as against a net loss of Rs. 167.21 crores for Q3 last year

For YTD, the operating profit was at Rs. 588.62 crores as against an operating loss of Rs. 17.38 crores for first nine months last year.

Mr. Vinod K. Dasari, Managing Director, said, "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 centers in overseas markets like our experience in Ras Al Khaimah (UAE). We are today reasonably confident that the domestic market is indeed coming back and that the worst may be behind us".

"We believe this growth momentum will continue and we should close this fiscal on a good note. Total industry volume has grown 10 percent year-on-year. A more stable and optimistic business environment, improvement in profitability of fleet owners, pre-buying ahead of the excise duty hike contributed to the increase in sales in the last quarter. Our single-minded focus on fiscal discipline and customer profitability reflects in the results of the company" added Mr. Dasari.