Ashok Leyland Q3 internet revenue dips 87% at Rs 57 crore, Auto Information, Automobilnews
New Delhi: Hinduja Group flagship Ashok Leyland on Wednesday reported a 86.68 per cent decline in its consolidated internet revenue to Rs 57.11 crore for the third quarter ended December 31, 2019.The corporate had posted a consolidated internet revenue of Rs 428.76 in October-December interval 2018-2019, as per a regulatory submitting.
Its consolidated income stood at Rs 5,188.64 for the third quarter, down 30.5 per cent as in contrast with Rs 7,469.64 crore within the yr in the past interval.
Commenting on the outcomes Vipin Sondhi, MD & CEO Ashok Leyland Restricted stated, “The business continued to witness a decline in quantity (39 per cent). Ashok Leyland additionally witnessed a quantity drop on this quarter. Regardless of this, we have now been in a position to obtain an EBITDA of 5.6 per cent.”
He additional stated the corporate has been seeding heavy obligation BS VI autos out there, properly earlier than the April 2020 deadline. Together with the rollout of the BS VI autos, he added, the corporate will even be introducing distinctive modular enterprise platform that may give clients the pliability to decide on autos as per their requirement.”We’ve got executed intensive testing on the progressive i-Gen6 answer, which is a specifically designed progressive, clever, and indigenous answer that makes use of Mid-NOx know-how. We’re assured that with this, we can be offering the most effective suited answer for Indian circumstances,” he added.
Gopal Mahadevan, Entire Time Director & Chief Monetary Officer, Ashok Leyland Restricted stated, “We proceed our productiveness and price discount packages began earlier within the yr. These initiatives have helped us obtain a sizeable discount in prices. We’re additionally specializing in money flows and conserving sources for future progress initiatives”.