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Ashok Leyland reports net loss of Rs 96.23 crore in September quarter

Hinduja flagship firm Ashok Leyland on Friday reported a consolidated net loss of Rs 96.23 crore in the second quarter ended September.

Ashok Leyland

Press Trust of India  |  New Delhi 

Ashok Leyland undertakes cost cutting measures to save Rs 500 crore

Hinduja flagship firm on Friday reported a consolidated net loss of Rs 96.23 crore in the second quarter ended September.

The company had posted a consolidated net profit of Rs 69.95 crore in the same period last fiscal, said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 3,852.84 crore as against Rs 5,096.13 crore in the year-ago period, it added.

Commenting on the performance in the second quarter, Ltd Managing Director and Chief Executive Officer Vipin Sondhi said: "While the challenges in the market due to COVID-19 continue, the company has seen a marked improvement in the company's performance in this quarter."

The performance of the company's newly launched AVTR platform in the M&HCV segment and Bada Dost in the LCV segment gives immense confidence that the company is on the right track, he added.

"Our innovative I-gen6 (Mid-NOx) BS-VI solution has received a very positive response from customers and our teams have worked relentlessly to deliver on our promise of Aapki Jeet. Hamari Jeet. As we go forward our focus on customer acquisition and network expansion will continue," Sondhi said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 06 2020. 21:42 IST