29/11/2021

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Ashok Leyland Q4 net profit plunges 92{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} to Rs 57.78 cr, Auto News, ET Auto

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Revenue from operations during the quarter under review stood at Rs 5,088.04 crore as against Rs 9,874.04 crore in the year-ago period.
Income from operations for the duration of the quarter below assessment stood at Rs 5,088.04 crore as versus Rs nine,874.04 crore in the year-ago period of time.

New Delhi: Hinduja Group flagship organization Ashok Leyland on Thursday claimed a ninety two.31 for each cent decrease in consolidated internet income at Rs fifty seven.78 crore in the fourth quarter ended March 31.

The organization experienced posted a internet income of Rs 751.71 crore in the identical quarter of prior fiscal, Ashok Leyland stated in a regulatory submitting.

Income from operations for the duration of the quarter below assessment stood at Rs 5,088.04 crore as versus Rs nine,874.04 crore in the year-ago period of time.

For fiscal year 2019-20, the organization posted a consolidated internet income of Rs 459.80 as compared with Rs two,194.60 crore in 2018-19.

Income from operations in FY20 stood at Rs 21,951.27 crore as compared with Rs 33,196.eighty four crore in FY19.

“This has been a hard year for the sector, which witnessed a sizeable decrease in volumes (of forty two for each cent). For that reason, Ashok Leyland also observed a reduction in quantity,” Ashok Leyland Taking care of Director and CEO Vipin Sondhi stated.

He additional stated, “Irrespective of the drop in the volumes, we have been capable to realize an EBITDA of 6.seven for each cent owing to the pan-organization initiatives to drive profitability.”

Sondhi stated even with the hard situations, the organization brought new items and know-how with the launch of its modular company platform ‘AVTR’, offering consumers the flexibility to decide on motor vehicles as for each their requirements.

“There has been a very positive buyer response for AVTR and the enquiries gained for AVTR, as perfectly as our LCV selection is a very encouraging indication for the quarters to adhere to,” he stated.

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