Ashok Leyland reported 97.46% fall in consolidated net profit to Rs 18.07 crore on 48.23% fall in total income to Rs 5,128.20 crore in Q4 March 2020 over Q4 March 2019.
Vipin Sondhi, MD & CEO Ashok Leyland said this has been a challenging year for the industry, which witnessed a significant decline in volumes. Consequently, Ashok Leyland also saw a reduction in volume.
The announcement was made after market hours yesterday, 25 June 2020. Shares of Ashok Leyland settled 1.02% lower at Rs 53.55 yesterday.
Separately, the Fund Raising Committee of the Board of Directors of Ashok Leyland has allotted 2,000 Rated Listed Secured Redeemable Non-Convertible Debentures having face value of Rs 10 lakh each for cash aggregating to Rs 200 crore on private placement basis.
Ashok Leyland, flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 3rd largest manufacturer of buses in the world, and the 10th largest manufacturers of trucks.
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