Ashok Leyland Q3 results: Net loss at Rs 19 crore due to VRS cost

Ashok Leyland on Thursday reported a loss of Rs 19.38 crore in the third quarter ended December 31, 2020 compared to a profit of Rs 27.75 in the year-ago period. The net loss includes a one- time VRS cost of Rs 85 crore. The company posted a net loss of Rs 147 crore in preceding September quarter (Q2FY21).

Revenues increased to Rs 4,813.51 crore for the period under review as against 4,015.65 crore.

The company brought down net debt to Rs 2,880 crore in third quarter from Rs 3,076 crore in Q2FY21, strengthening the balance sheet of the company.

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