SML Isuzu Q1 profit up 23.5%

Commercial vehicle maker SML Isuzu has posted a 23.5 per cent increase in net profit to Rs 12.24 crore for the first quarter ended June 30. Net sales in the period were up 10 per cent to Rs 261.24 crore. In a statement, the company said that it is working on a new project to manufacture light commercial vehicles above 3.5 tonne at its plant in Punjab. SML Isuzu shares on the BSE were up 6.29 per cent to Rs 403.95 on Monday.