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
Industrial car main – Ashok Leyland Restricted 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 yr. The corporate’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 yr. The corporate 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.
Additionally Learn: CV Sales July 2020: Ashok Leyland Almost Doubles Monthly Volumes Over June, But Sees 56% Decline In Y-o-Y Sales
The brand new AVTR modular truck platform has carried out comparatively properly.
Vipin Sondhi, MD & CEO, Ashok Leyland Restricted stated, “With the pandemic hitting us, this has been one of the difficult quarters for the business. We noticed a major decline in volumes, consequently, Ashok Leyland additionally noticed a discount in quantity, affecting the monetary efficiency of the corporate adversely. Regardless of the difficult instances we went forward and launched the distinctive Modular Enterprise Platform “AVTR”, which supplies our prospects the flexibleness to decide on autos as per their necessities. This will probably be a sport changer within the business and we’ve already rolled out over 2,000 of those autos until date this yr and along with our LCV vary we’ve already rolled out 10,000 BS VI autos. That is certainly a really encouraging signal for the quarters to observe.”
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Ashok Leyland has delivered over 10,000 industrial autos within the stated quarter.
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Within the first quarter the corporate efficiently launched its AVTR vary of modular autos within the heavy industrial car section together with the intermediate industrial car vary of autos.
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