Ashok Leyland sees 30 pct sales growth FY07
MUMBAI (Reuters) - Ashok Leyland Ltd., India's second-biggest bus and truck maker, said on Wednesday it expected sales to grow by 30 percent in the fiscal year to March 2007 and that material costs would not soften.
"Our operating margins for the (December) quarter are up 68 basis points, despite continuing pressure from input costs," Managing Director R. Seshasayee said.
"Volume expansion and the resultant operating economies helped."
Ashok Leyland, the flagship of the Hinduja group, reported a better-than-expected 86 percent rise in net profit to 1.05 billion rupees in the December quarter.
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