Ashok Leyland, Country's second-biggest bus and truck maker, announced a net profit of Rs 180.57 crore for the quarter ended March 31, 2008 registering a 5.28 per cent growth over the corresponding period a year ago.

The total income rose to Rs 2,573.61 crore for the latest quarter compared to Rs 2,307.9 crore in 2007.

The board of directors has declared a dividend of 150 per cent at the rate of Rs 1.50, on every share of face value of Re one held, for the year ended 2007-08.

Yesterday, the company reported a fall of 2.46 per cent in its vehicle sales (including exports) during April at 5,705 units compared to 5,849 units in the same month of previous year.

The company plans to spend Rs 3000 crore (US$721 million) in capex over the next three years to more than double the capacity from its present capacity of 84,000 vehicles. Ashok Leyland has also scheduled the launch of ‘iBus’ this year.