Ashok Leyland, second largest commercial vehicle maker is likely to set up another greenfield plant in Tamil Nadu to enhance capacities in the light commercial vehicle (LCV) segment. The company plans to expand the existing facilities with the investment outlay of Rs 2,400 crore and also setting up of a new manufacturing base over the next two years.
The company has posted a rise of 54.25% in its net profit of Rs 66.90 crore for the quarter ended December 31, 2011 as compared to Rs 43.37 crore for the same quarter in the previous year. Total income has increased by 29.31% from Rs 2229.57 crore for Q3FY11 to Rs 2883.03 crore in the quarter under review.
Ashok Leyland is the flagship of the Hinduja Group and a leading manufacturer of commercial vehicles in India.
