High costs, fin expenses drag Ashok Leyland Q1 net down 30%

Commercial Vehicle maker Ashok Leyland missed estimates as first quarter net profit fell 30% from a year ago to Rs 86.25 crore amid high raw material costs and surge in financial expenses.

July 19, 2011 / 21:20 IST

Moneycontrol Bureau

Commercial Vehicle maker Ashok Leyland missed street estimates as first quarter net profit fell 30% from a year ago to Rs 86.25 crore amid high raw material costs and surge in financial expenses.

Net sales for the April-Jun quarter were also slow, up 6.3% year-on-year to Rs 2,495.51 crore.

Analysts on average had expected Ashok Leyland

first published: Jul 19, 2011 12:59 pm

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High costs, fin expenses drag Ashok Leyland Q1 net down 30%

Commercial Vehicle maker Ashok Leyland missed estimates as first quarter net profit fell 30% from a year ago to Rs 86.25 crore amid high raw material costs and surge in financial expenses.

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