Ashok Leyland net dips 93%

New Delhi, Nov. 8: Ashok Leyland reported a 92.61 per cent decline in its net profit to Rs 39 crore for the second quarter ended September 30. The company had posted a net profit of Rs 528 crore in the July-September period of 2018-19. Its revenue stood at Rs 3,929 crore, down 48 per cent as compared with Rs 7,621 crore in the year-ago period, the company said.

“The industry has witnessed a 53 per cent decline in volumes. Volumes for Ashok Leyland also witnessed a significant drop in this quarter, despite this, we have been able to achieve an Ebitda of 5.8 per cent,” Ashok Leyland Chairman Dheeraj G. Hinduja said.