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Business EconomyPosted at: Aug 12 2020 9:17PM


Ashok Leyland Q1 FY ’21 revenues at Rs. 651 Cr

Kolkata, Aug 12 (UNI) Ashok Leyland Limited, flagship of the Hinduja Group, reported
a revenue of Rs. 651 Cr for Q1 FY ’21 as against Rs. 5684 Cr for the same period
last year.
This was owing to the lock down on account of the COVID-19 pandemic. With
virtually no operations or revenues in the first part of this quarter owing to the lock
down, the demand is seen to be gradually opening up as the lock down is being
eased.
With virtually very low revenues, the loss before tax for the quarter was at
Rs 550 Cr (Profit before tax Rs. 361 Cr) and Loss after tax was at Rs. 389 Cr
(Profit after tax Rs. 230 Cr).
During the quarter the Company successfully introduced its AVTR Range of
Modular Vehicles in the Heavy Commercial Vehicle segment as also a completely
differentiated Intermediate Commercial Vehicle range of vehicles.
The BS VI “Mid-Nox” technology of the Company provides superior “Fluid
Efficiency”. Both the AVTR range and “Mid-Nox” have been received very well
by customers.
Vipin Sondhi, MD & CEO, Ashok Leyland Limited, said, “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 2000 of these vehicles till date this year and
together with our LCV range we have already rolled out 10000 BS VI vehicles.
This is indeed a very encouraging sign for the quarters to follow," Mr Sondhi
added.
Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok
Leyland Limited, said, “This is an exceptional quarter not just for the industry
but also for the entire economy. We have used this time to drive disruptive
cost efficiencies and productivity measures. The focus was also on
maintaining liquidity, not just of the company but also our dealers and
vendors. There have been tremendous learnings for us in doing business
efficiently without dropping the ball on growth initiatives. We will come out
of this much stronger.”
UNI BM
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Tags: #Ashok Leyland Q1 FY ’21 revenues at Rs. 651 Cr
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