Ashok Leyland reported revenue of Rs. 4016 Cr as against Rs. 6325 Cr for the same period last year. The total MHCV Industry Volume had come down by 39%. PBT for the quarter was at Rs. 54 Cr (Rs. 484 Cr) and PAT was at Rs. 28 Cr (Rs. 381 Cr). EBITDA for the quarter was at 5.6%.
Vipin Sondhi, MD & CEO Ashok Leyland Limited said, “The industry continued to witness a decline in volume (39%). Ashok Leyland also witnessed a volume drop in this quarter. Despite this, we have been able to achieve an EBITDA of 5.6%.
We have been seeding our range of heavy duty BS VI vehicles in the market, well before the April 2020 deadline. We have done extensive testing on the innovative i-Gen6 solution, which is a specially designed innovative, intelligent, and indigenous solution that uses Mid-NOx technology. We are confident that with this, we will be providing the best suited solution for Indian conditions. Along with the rollout of the BS VI vehicles, we will also be introducing our unique Modular Business Platform that will give our customers the flexibility to choose vehicles as per their requirement.”
Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland Limited said, “We continue our productivity and cost reduction programs started earlier in the year. These initiatives have helped us achieve a sizeable reduction in costs. We are also focusing on cash flows and conserving resources for future growth initiatives”.
Ashok Leyland BS-VI trucks and buses are a hallmark of excellence and the new range has adapted many innovations to suit Indian conditions. The Company has effectively met the BS-VI emission regulations through a combination of proven iEGR and a Best-in-Class SCR system, while making minimal changes in the engine. All this ensures that it builds upon its dependable engine platforms and deliver better TCO to its customers. The Company’s focus is to provide efficient, clean, safe, accessible, and an affordable value proposition to its customers. Ashok Leyland has been testing this new technology and have successfully covered over 5 million kilometers of field tests.