Ashok Leyland slips into red, reports Rs 72 cr pre-tax loss in Q4


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.

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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.”

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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.”

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