 "Ashok Leyland undertakes cost cutting measures to save Rs 500 crore")
Shares of Ashok Leyland were trading lower for the fifth straight day, down 2 per cent at Rs 47.30 on the BSE on Tuesday. The stock has slipped 16 per cent in one week on weak results for the quarter ended March 2020 (Q4FY20).
Ashok Leyland, the flagship company of the Hinduja Group, reported a net loss of Rs 57 crore in Q4FY20 due to lower revenue on account of the drop in volumes. The commercial vehicle manufacturer had posted a net profit of Rs 806 crore in Q4FY19.
The company’s revenue during the quarter under review declined by 57
