Ashok Leyland Q2 net loss narrows to Rs 83 crore YoY, revenue up 57%

Ashok Leyland Ltd, flagship corporation of the Hinduja Team, has posted a internet decline of Rs 83 crore for the second quarter of the monetary calendar year 2021-22 in contrast to a internet decline of Rs 147 crore in the July to September quarter of the earlier monetary calendar year.

The corporation claimed a fifty seven for every cent enhance in calendar year-on-calendar year revenues in Q2 FY22. The revenues for the quarter stood at Rs four,458 crore as from Rs two,837 crore in Q2 FY21. In the course of the quarter, the company’s uncooked content value improved by 61 for every cent from Rs 1,922 crore during Q2FY21 to Rs three,093 crore during the exact quarter this fiscal. Ashok Leyland’s domestic medium and large commercial motor vehicles (M&HCV) product sales volume for the time period was at eleven,988 device up by seventy one for every cent from six,994 units during Q2 FY21

The company’s domestic mild commercial motor vehicles (LCV) volumes for Q2FY22 was viewed at 13,328 units, putting up a expansion of 22 for every cent in contrast to 10,952 units very last calendar year in the exact quarter. Export volumes (MHCV & LCV) for Q2FY22 was also up by 49 for every cent from 1,491 units during Q2FY21 to two,227 units during the exact time period this fiscal. Net income produced for the quarter was Rs 1,063 crore which was made use of to retire debt. Net debt now stands at Rs three,112 crore in Q2 as in contrast to Rs four,175 crore in Q1.

“The market has viewed indications of volume recovery in Q2FY22 more than the exact time period very last calendar year, and we continue to be confident and optimistic about the long term. The financial system is exhibiting indications of return to expansion and we at Ashok Leyland will continue to develop competitive solutions and organisational capabilities for long term expansion. Our concentration will be to constantly boost our market place share and obtain it profitably and sustainably,” said Vipin Sondhi, managing director and main government officer, Ashok Leyland.

The corporation said that Swap Mobility, the EV arm of Ashok Leyland, continues to increase its get guide in India, British isles and EU and has produced significant fascination at COP26, remaining the very first automotive manufacturer to dedicate to acquiring internet zero carbon in its functions for 2021.

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