Chennai, Oct 23 (UNI) Aided by higher bus sales despite the slowdown in the domestic commercial vehicle market, Hinduja Group flagship Ashok Leyland has reported a Profit After Tax of Rs 1,685.24 million for the first half of the current fiscal, up 2.4 per cent over Rs 1,645.10 million in the first half of the last fiscal.
A company release here today said its half yearly sales volume was 37,033, compared to 36,903 for the first half of the last fiscal, despite a fall in the country's Medium and Heavy Commercial Vehicle segment.
Garnering more than half of the market share in the bus segment had helped the Company offset the impact of the slowdown in the goods segment.
At Rs 33,670.36 million (Rs 30,995.93), net sales turnover for the first half of the year had grown by 8.6 per cent.
Other income, at Rs 186.90 million, was lower by 61 per cent compared to Rs 475.46 for the same period in 2005-06, which contributed Rs 238 million as profits from divesting its shares in IndusInd Bank Ltd. in line with the RBI requirements.
Financial expenses had expanded to Rs 253.83 million (Rs 8.88 million) reflecting a complete deployment of the FCCN funds and stepped-up capex commitments, the release added.