India's second largest commercial vehicle manufacturer Ashok Leyland has seen its turnover fall 44 percent in the quarter ended Dec 31 last year, compared to the corresponding period the previous year.
The company closed the third quarter with revenue of Rs.10 billion and a net profit of Rs.188.68 million, as against Rs.18 billion and Rs.1.2 billion, respectively, the previous year.
The company sold 8,011 vehicles during the period under review, as against 18,965 the corresponding quarter the previous year.
According to company managing director R. Seshasayee, demand continues to be depressed on account of "uncertainties".
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