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Saturday, December 4, 2021

Nw: Ashok Leyland Q2 results: Co reports to find loss at Rs 84 crore

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Mumbai: Industrial autos (CV) major

on Friday reported losses for the 2d straight quarter amidst advanced market instances and hovering enter fees.

The firm reported a consolidated lack of Rs 84 crore for the July-September duration when compared with a lack of Rs 96 crore in the corresponding duration final year.

Consolidated income improved by 44 per cent year-on-year to Rs 5,562 crore. Then again, earnings prior to curiosity, tax, depreciation and amortization (EBITDA) remained flattish at Rs 576 crore as high commodity prices impacted margins. EBITDA margin narrowed by 470 foundation aspects to 10.3 per cent. One foundation level 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 when when compared with a 1.28 per cent develop in benchmark Sensex.

“The industry has seen signs of volume restoration in Q2 FY22 over the a linked duration final year, and we dwell confident and optimistic about the longer term,” said Vipin Sondhi, managing director at Ashok Leyland .

“Our level of curiosity will be to continually pork up our market piece and develop it profitably and sustainably. Our world market growth approach is additionally in issue, as we proceed to level of curiosity on reaching our imaginative and prescient of being among the many tip 10 world CV makers,” he said in a media statement.

The firm became additionally making growth in the electrical autos division via its mission Swap, Sondhi said. The firm became additionally focussing on agencies enjoy energy choices and defense besides to its core exchange.

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