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Ashok Leyland has recorded loss within the first quarter of 2021 owing to the coronavirus lockdown with no operations for nearly two month of the quarter.
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Ashok Leyland’s income in the identical quarter witnessed a steep drop of 88.54 per cent
Commercial car main – Ashok Leyland Limited has reported a loss after tax of ₹ 389 crore within the first quarter of FY2021 as in comparison with the revenue after tax (PAT) of ₹ 230 crore in the identical quarter final 12 months. The firm’s income in the identical quarter witnessed a steep drop of 88.54 per cent at ₹ 651 crore as in comparison with ₹ 5,684 crore it generated within the first quarter of the final monetary 12 months. The firm has stated that it has recorded loss on this quarter owing to the coronavirus lockdown with no operations for nearly two month of the quarter.
Vipin Sondhi, MD & CEO, Ashok Leyland Limited stated, “With the pandemic hitting us, this has been one of the most challenging quarters for the industry. We saw a significant decline in volumes, consequently, Ashok Leyland also saw a reduction in volume, affecting the financial performance of the company adversely. Despite the challenging times we went ahead and launched the unique Modular Business Platform “AVTR”, which gives our customers the flexibility to choose vehicles as per their requirements. This will be a game changer in the industry and we have already rolled out over 2,000 of these vehicles till date this year and together with our LCV range we have already rolled out 10,000 BS VI vehicles. This is indeed a very encouraging sign for the quarters to follow.”
Also Read: Hitachi ABB Plans To Launch New EV Charging System In India Under Partnership With Ashok Leyland
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In the primary quarter the corporate efficiently launched its AVTR vary of modular automobiles within the heavy business car section together with the intermediate business car vary of automobiles.
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