Commercial vehicle-maker Ashok Leyland today reported a 54.25 per cent rise in net profit

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to Rs 66.90 crore for the third quarter ended December, 2011.

The company had posted a net profit of Rs 43.37 crore for the corresponding period last financial year.

Net sales went up by 29.30 per cent to Rs 2,879.80 crore during the quarter from Rs 2,227.25 crore in the year-ago period, Ashok Leyland said in a filing to the BSE.

Shares of the company settled 4.20 per cent higher at Rs 28.55 apiece on the BSE today.