Ashok Leyland, the 2nd largest commercial vehicle manufacturer in India, swung to profit for the quarter ended September 2014.  During the quarter, the company reported a profit of Rs 1,206.9 million compared with a loss of Rs 250.54 million in the same quarter previous year.

Total income for the quarter rose 26.20% to Rs 32.18 billion, compared with Rs 25.50 billion for the prior year period.

''We have been sharply focused on reducing working capital and lowering debt. Healthier sales realizations has helped strengthen our bottom-line and not only have we gained market share, but we have returned to profitability after 5 successive quarters. The economy is showing firm signs of recovery and assertive action on infrastructure projects will only push demand higher in the second half. We are quite buoyant that overall positivity in sentiment bodes well for growth prospects of the industry,'' commented Vinod K Dasari, managing director, Ashok Leyland.

Shares of the company gained Rs 0.9, or 1.93%, to trade at Rs 47.65. The total volume of shares traded was 2,116,305 at the BSE (10.13 a.m., Friday).