Leading commercial vehicle maker Ashok Leyland has announced its first quarter financial results for the fiscal year 2010-11. According to the report, it company has registered a mammoth sixteen fold rise in the net profit of the company in the June quarter of the year against its like period a year ago.

Ashok Leyland has posted a net profit of Rs 122.64 crore for the quarter that ended in 30th June, this year.

The company has registered a net profit of only Rs 7.77 crore in the corresponding quarter in the previous financial year. This has been informed by the vehicle maker in a filing at the Bombay Stock Exchange. Ashok Leyland is one of the major automotive makers of India which comes under the flagship of the Hinduja group.

So far as the net sales of the firm are concerned, it has been increased with a significant rise. The company has posted a net sales figure of Rs 2,347.98 crore during the April-June quarter of fiscal year 2010-11 which was only Rs 918.07 crore for the similar quarter in the preceding year. There has been a twofold rise in the net sales income of the company.