Ashok Leyland reports loss of Rs 147 cr in Sept quarter, revenue dips 28%

Ashok Leyland Ltd posted a loss of Rs 147 crore during the September quarter as against a profit of Rs 39 crore in Q2FY20.

Revenue from operations during the quarter stood at Rs 2,837 crore, down 28% YoY. The company reported a revenue of Rs 3,930 crore in Q2FY20.

Vipin Sondhi, MD & CEO, Ashok Leyland Limited said, "While the challenges in the market due to Covid-19 continue, the company has seen a marked improvement in the its performance in this quarter. The performance of our newly launched AVTR platform in the M&HCV segment and Bada Dost in the LCV segment gives us immense confidence that we are on the right track." 

Gopal Mahadevan, whole time director & CFO, Ashok Leyland added, “The performance for this quarter, which resulted in a positive EBITDA of 2.8%, was made possible by the revenue enhancement and operational efficiency initiatives of the company during the challenging times. All the acyclical businesses, including LCV, after market, defence and power solutions have performed really well during the quarter. Focus on operating cost and material cost optimisation will continue, even as we pursue growth.”