Ashok Leyland net loss at Rs 389 cr in June quarter, owing to pandemic

Hinduja Group flagship firm Ashok Leyland on Wednesday reported a consolidated net loss of Rs 388.82 crore for the first quarter ended June 30, owing to the coronavirus pandemic.

The commercial vehicle maker had posted a net profit of Rs 274.96 crore for the April-June 2019 quarter.

Revenue from operations in April-June 2020 significantly declined to Rs1,486.04 crore as compared with Rs 6,588.23 crore in the year-ago period, Ashok Leyland said in a regulatory filing.

"With the pandemic hitting us, this has been one of the most challenging quarters for the industry," Ashok Leyland MD and CEO Vipin Sondhi said.