Ashok Leyland Q3 Results: Loss narrows to Rs 19 crore, revenue up 70% sequentially

CHENNAI: , flagship of the Hinduja Group, on Thursday reported a 70% enhance in sequential quarter revenues for the quarter ended December 31.

The corporate reported a web lack of Rs 19 crore for the quarter ended December 31 (this features a one- time VRS price of Rs 85 crore), the corporate mentioned in a press release. This comes as a major uptick towards the web lack of Rs 147 crore that the corporate reported within the second quarter.

Nonetheless, the corporate had reported a web revenue of Rs 28 crore within the third quarter of the earlier 12 months.

The revenues for the quarter stood at Rs 4,814 crore as towards Rs 2,837 crore within the second quarter and Rs 4,016 crore in the identical interval final 12 months.

“We’ve got seen a marked enchancment within the firm’s efficiency on this quarter. All our newly launched merchandise and our revolutionary i-Gen6 (Mid-NOx) BS6 answer have proved their mettle throughout the markets,” Vipin Sondhi, MD & CEO, Ashok Leyland Restricted mentioned. “One other innovation, the “Digital Nxt”, an industry-first mixture of three revolutionary digital options has turn out to be extraordinarily standard with fleet house owners with increasingly more customers getting on to the platform, deriving advantages of our digital Apps. On the associated fee entrance, our concentrate on controlling prices has paid dividends for us this quarter.”

The corporate reported an EBITDA of 5.3% for the third quarter towards an EBITDA of two.8% within the second quarter.

Ashok Leyland additionally introduced down web debt from Rs 3,076 crore within the second quarter to Rs 2.880 crore within the third quarter.

The corporate mentioned that after eight steady quarters of de-growth, the MHCV Truck Complete Business Quantity (TIV) has registered a year-on-year progress of 16% within the third quarter.

Whereas the {industry} bus volumes continued to lag, these are anticipated to get well with the opening up of restrictions. Throughout the third quarter, AL truck volumes have grown at virtually twice the speed of the {industry}.

Ashok Leyland’s market share in vans for the third quarter improved to 28.1% as towards 24.9% in the identical interval final 12 months. The corporate’s home LCV volumes, too, have been sequentially larger by about 46% and likewise larger than than that of the identical interval final 12 months (which stood at 27%).

Exports volumes for the third quarter (2,941 items) is double that of the second quarter.

“The efficiency for this quarter which resulted in a optimistic EBITDA of 5.3 % was made doable owing to the income enhancement and operational effectivity initiatives of the corporate throughout difficult occasions. LCV, After Market, Defence and Energy Options companies have carried out rather well through the quarter. The concentrate on resetting the working price to revenues and materials price optimization will proceed,” mentioned Gopal Mahadevan, Director & CFO, Ashok Leyland.

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