New Delhi: Hinduja Group flagship company Ashok Leyland on Thursday noted a 92.31 per cent drop in consolidated internet income at Rs fifty seven.78 crore in the fourth quarter ended March 31.
The company experienced posted a internet income of Rs 751.71 crore in the identical quarter of prior fiscal, Ashok Leyland reported in a regulatory submitting.
Earnings from operations in the course of the quarter beneath review stood at Rs five,088.04 crore as versus Rs 9,874.04 crore in the year-ago period.
For fiscal year 2019-twenty, the company posted a consolidated internet income of Rs 459.eighty as in comparison with Rs 2,194.sixty crore in 2018-19.
Earnings from operations in FY20 stood at Rs 21,951.27 crore as in comparison with Rs 33,196.84 crore in FY19.
“This has been a hard year for the marketplace, which witnessed a substantial drop in volumes (of forty two per cent). Therefore, Ashok Leyland also noticed a reduction in volume,” Ashok Leyland Managing Director and CEO Vipin Sondhi reported.
He additional reported, “Regardless of the fall in the volumes, we have been ready to realize an EBITDA of 6.7 per cent owing to the pan-company attempts to travel profitability.”
Sondhi reported in spite of the hard instances, the company introduced new goods and technological innovation with the start of its modular business enterprise platform ‘AVTR’, supplying prospects the flexibility to pick autos as per their necessities.
“There has been a extremely optimistic shopper response for AVTR and the enquiries obtained for AVTR, as properly as our LCV vary is a extremely encouraging indication for the quarters to follow,” he reported.
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