Ashok Leyland announced a sharp rise in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 2.37 times to Rs 2,870 million from Rs 1,206.89 million in the same quarter last year.

Revenues for the quarter surged 53.46% to Rs 49,379.38 million, compared with Rs 32,177 million for the prior year period.

Operating margin for the quarter stood at 4.63 percent as compared to 1.90 percent for the previous year period. Operating Income for the quarter was Rs 2,288.23 million, compared with Rs 610.427 million in the previous year period.

Shares of the company declined Rs 5.35, or 5.81%, to settle at Rs 86.80. The total volume of shares traded was 4,237,298 at the BSE (Thursday).