Ashok Leyland, the Hinduja Group flagship, has registered a sales turnover of Rs 7,244.71 crores during 2009-10 compared to Rs 5,981.07 crores in the previous fiscal. Net profit also rose by 123% to touch Rs 423.67 crores (Rs 190 crores).
The Company effectively contained the increase in raw material prices especially steel and rubber reflected in the rise in consumption of raw material by just 17% at Rs. 5,217.52 crores (Rs. 4,452.25 crores).
Employee cost during the year rose by 18% to Rs. 665.93 crores (Rs. 566.18 crores). Other expenditure went up by only 21% at Rs. 598.42 crores (Rs. 493.21 crores) thanks to the efforts towards cost reduction. Financial Expenses were curtailed by 31.7% at Rs. 81.13 crores as against Rs. 118.71 crores in the previous fiscal largely through better management of liquidity and working capital.
An expenditure of Rs. 3.27 crores (Rs. 13.49 crores) for VRS compensation amortised is an extraordinary item. Income Tax claimed Rs. 121.10 crores (Rs. 12.45 crores) to give a Net Profit from Ordinary Activities after tax of Rs. 423.67 crores (Rs. 190 crores).
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