Ashok Leyland Limited has reported loss before tax for the quarter at Rs 72 crore as against profit before tax of Rs 806 crore during the same period a year ago.
Loss after tax during the fourth quarter was at Rs 57 crore as against profit of Rs 653 crore, a year ago.
During the fourth quarter revenue stood at Rs 3,838 crore as against Rs 8,846 crore for the same period last year.
Vipin Sondhi, MD & CEO, Ashok Leyland Limited said, “This has been a challenging year for the industry, which witnessed a significant decline in volumes (42 per cent). Consequently, Ashok Leyland also saw a reduction in volume. Despite the drop in the volumes, we have been able to achieve an EBITDA of 6.7 per cent.”
Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland said, “We continue the productivity and cost reduction programmes that we started earlier in the year. These initiatives have helped us achieve a sizeable reduction in costs. We are also focusing on improving cash flows and conserving resources for future growth initiatives.”