A sharp rise in interest costs and higher depreciation has pulled down the second quarter net profit of Ashok Leyland by 7.76 per cent to Rs 154.08 crore.
Net sales for the quarter ended September 30, 2011 rose 14 per cent to Rs 3,094.57 crore, over the corresponding quarter last year.
Interest costs for the quarter rose 59 per cent to Rs 62.69 crore, while depreciation was up 34 per cent at Rs 85.93 crore.
During the second quarter, Ashok Leyland's total sales dipped 4 per cent to 23,628 units (from 24,589 units in the previous corresponding quarter).
For the six months ended September 30, 2011, net profit dipped 17 per cent to Rs 240 crore, while net sales rose 10 per cent to Rs 5,590 crore.
In the six months period (April-September 2011), Ashok Leyland's total sales dipped 7 per cent to 42,905 units from 45,989 in the corresponding period the previous year.