CV maker Ashok Leyland’s internet revenue plunges 93%, Auto Information, Automobilnews
Mumbai – Indian industrial car maker Ashok Leyland on Friday stated that its internet revenue fell by 93 per cent to Rs 39 crore within the September quarter from Rs 528 crore reported within the corresponding quarter of final yr, indicating extreme stress in India’s auto sector.Ashok Leyland reported a income of Rs 3,929 crore, which was 48 per cent decrease than the identical interval final yr.
“The trade has witnessed a 53 per cent decline in volumes. Volumes for Ashok Leyland additionally witnessed a major drop on this quarter; regardless of this, we have now been in a position to obtain an earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) of 5.eight per cent,” stated Dheeraj G. Hinduja, Chairman, Ashok Leyland.
He additional stated that among the value administration programmes initiated early this yr have yielded advantages and are mirrored within the outcomes.
“We’re very proud to be the primary Indian industrial car producer to obtain ARAl certification for our entire vary of heavy obligation BS VI automobiles,” Hinduja added.Ashok Leyland had earlier stated it had offered a complete of 9,857 items in October, with its truck gross sales declining and its bus gross sales registering a progress.