Ashok Leyland Q2 FY ’20 Revenues at Rs. 3929 Crores:48% lower than the same period last year

Chennai, Nov 8, 2019: Ashok Leyland Limited, Indian flagship of the Hinduja Group, reported a revenue of Rs. 3929 Crores which was 48% lower than the same period last year (Rs. 7621 Crores). The Total Industry Volume had come down by 53%. PBT (before exceptional item) for the quarter was at Rs. 84 Crores (Rs. 688 Crores) and PAT was at Rs. 39 Crores (Rs. 528 Crores). EBITDA for the quarter was at 5.8%.

Revenue for the half year was at Rs.9613 Crores (Rs.13884 Crores). PBT (before exceptional item) for the half year was at Rs.465 Crores (Rs.1246 Crores) and PAT was at Rs.269 Crores (Rs.949 Crores). EBITDA for the half year was at 8.0% (10.8%).

Mr. Dheeraj G Hinduja, Chairman, Ashok Leyland Limited said, “The industry has witnessed a 53% decline in volumes. Volumes for Ashok Leyland also witnessed a significant drop in this quarter, despite this, we have been able to achieve an EBITDA of 5.8%. Some of the cost management programs initiated early this year have yielded benefits and are reflected in the results.

We are very proud to be the first Indian commercial vehicle manufacturer to receive ARAI certification for our whole range of heavy duty BS VI vehicles. Along with the rollout of the BS VI vehicles, we will also be introducing our Modular Business Platform giving our customers the flexibility to choose vehicles as per their specific needs and enable a faster response from us.”

Mr. Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland Limited said, “We commenced our productivity drive and cost reduction program well in advance. These initiatives have gained momentum and have helped us achieve a sizeable reduction in costs. We are closely watching the developments in the industry.”

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