Ashok Leyland Makes Loss Of Rs 57 Crore this March Quarter

Ashok Leyland Makes Loss Of Rs 57 Crore this March Quarter

Ashok Leyland swung to loss of Rs 57 crore in quarter finished March 2020 against a benefit of Rs 653 crore during a similar quarter a year ago, the Chennai-based business vehicle creator said in an administrative recording post showcase hours on Thursday. Ashok Leyland’s income from tasks fell strongly to Rs 3,814 crore from Rs 8,723 crore during the relating time of a year ago because of COVID-19-instigated lockdowns and ensuing fall in the monetary action.

“The episode of COVID-19 pandemic over the globe and in India has added to a huge decay and instability in the worldwide and Indian monetary markets and stoppage in the financial exercises,” Ashok Leyland said in the stock trade recording.

Ashok Leyland swung to loss of Rs 57 crore in quarter finished March 2020 against a benefit of Rs 653 crore during a similar quarter a year ago, the Chennai-based business vehicle creator said in an administrative documenting post showcase hours on Thursday. Ashok Leyland’s income from tasks fell pointedly to Rs 3,814 crore from Rs 8,723 crore during the comparing time of a year ago because of COVID-19-initiated lockdowns and ensuing fall in the monetary action.

“The flare-up of COVID-19 pandemic over the globe and in India has added to a critical decay and unpredictability in the worldwide and Indian budgetary markets and log jam in the financial exercises,” Ashok Leyland said in the stock trade documenting.For budgetary year 2019-20, Ashok Leyland announced income of Rs 17,467 crore as against Rs 29,055 crore for a similar period a year ago. The benefit after assessment was Rs 240 crore contrasted and Rs 1,983 crore.

Vipin Sondhi, MD and CEO Ashok Leyland Limited stated, “This has been a difficult year for the business, which saw a critical decrease in volumes (42 percent). Therefore, Ashok Leyland additionally observed a decrease in volume. In spite of the drop in the volumes, we have had the option to accomplish an EBITDA of 6.7 percent attributable to the dish organization endeavors to drive benefit.”Ashok Leyland shares were exchanging on 0.8 percent lower at Rs 53 on the National Stock Exchange, failing to meet expectations the Nifty 50 file which was up 0.64 percent. In the money related year 2019-20, Ashok Leyland shares plunged 52 percent.

The Hinduja bunch leader firm Ashok Leyland revealed a 92.31 percent decrease in solidified net benefit at Rs 57.78 crore for the March quarter. The organization had posted a net benefit of Rs 751.71 crore in a similar quarter a year ago. The solidified incomes tumbled to Rs 5,088.04 crore from Rs 9,874.04 crore in the year-prior period.

As indicated by accessible figures, the organization sold only 2,179 units in March 2020 against 21,535 units every year prior. Ashok Leyland’s March quarter deals fell 57% year-on-year (y-o-y) to 25,504 units against 59,521 units sold during Q4FY19, while its FY20 deals were at 1,25,253 units, down 37% y-o-y.Ashok Leyland has revealed a sharp fall in its FY20 incomes to Rs 17,467 crore contrasted with ‘29,055 crore in the past financial. Ebitda was at 6.7%. PBT for the year was at Rs 362 crore (Rs 2,497 crore).

Rohith Kukkadapu

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