The company reported a consolidated loss of Rs 84 crore for the July-September period compared to a loss of Rs 96 crore in the corresponding period last year.
Consolidated revenue improved by 44 per cent year-on-year to Rs 5,562 crore. However, earnings before interest, tax, depreciation and amortisation (EBITDA) remained flattish at Rs 576 crore as high commodity prices impacted margins. EBITDA margin narrowed by 470 basis points to 10.3 per cent. One basis point is 0.01 per cent.
The stock of Ashok Leyland closed at Rs 145.6 on the BSE on Friday, down 0.55 per cent compared to a 1.28 per cent gain in benchmark Sensex.
“The industry has seen signs of volume recovery in Q2 FY22 over the same period last year, and we remain confident and optimistic about the future,” said Vipin Sondhi, managing director at Ashok Leyland.
“Our focus will be to continuously improve our market share and gain it profitably and sustainably. Our global market expansion strategy is also in place, as we continue to focus on achieving our vision of being among the top 10 global CV makers,” he said in a media statement.
The company was also making progress in the electric vehicles department through its venture Switch, Sondhi said. The company was also focussing on businesses like power solutions and defence in addition to its core business.
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