Mumbai: Hinduja flagship company Ashok Leyland on Wednesday said its standalone net profit declined by 84.31% to Rs18.86 crore for the quarter ended 31 December 2008.
The company had a net profit of Rs120.21 crore for the same quarter in FY 08, Ashok Leyland said in a filing to the Bombay Stock Exchange.
On a standalone basis, the company’s net sales dipped to Rs1,000.84 crore for the quarter under review, against Rs1,800.08 crore for the corresponding year.
For the nine months ended 31 December 2008, the company has posted a net profit of Rs136.68 crore, a 52.66% fall from Rs288.74 crore for the same period last year.
Further, the company has appointed R.R. Nair as an independent director on the board, the filing added.
He replaced S.R. Krishnaswamy, who has resigned from the board, it added.