Leyland net remains flat

Commercial vehicle maker Ashok Leyland said on Tuesday its net profit remained flat during 2001-02 at Rs 92.2 crore against Rs 91.6 crore in the previous year due to higher provision for taxation. Net sales grew one per cent to Rs 2,630.4 crore from Rs 2,606.9 crore a year ago, a company release said.

Ashok Leyland also announced a 45 per cent Rs 4.50 per equity share dividend for the year ended March 31, 2002. The modest performance was achieved despite a 8.6 per cent drop in sales volume to 29,763 vehicles from 32,745 vehicles in 2000-01. 8220;This was mainly due to two peculiar skews in the medium duty vehicle segment, which accounts for most of the company8217;s sales,8221; Ashok Leyland said in a release here.