Chennai: Ashok Leyland Limited, flagship of the Hinduja Group, reported a revenue of Rs 5,684 crore, nine per cent lower than the same period last year when revenues stood at Rs 6,263 crore.
The total industry volume had come down by 17 per cent. PBT for the quarter was at Rs 361 crore (Rs 536 crore) and PAT was at Rs 230 crore (Rs 422 crore).
EBITDA for the quarter was at 9.4 per cent. The company’s market share in the MHCV segment for the quarter grew by four per cent to 34.1 per cent.
Chairman, Ashok Leyland Limited, Dheeraj G Hinduja, said, “While the industry has witnessed a decline in volume of 17 per cent, Ashok Leyland’s market share has grown by four per cent. Our EBITDA at 9.4 per cent despite decline in revenues signifies efficient cost management in the company. We are well on course to introduce BS VI vehicles and will be seeding vehicles shortly. Despite a drop in TIV by five per cent, our LCV business continues to do very well and posted a growth of 12 per cent.”
Whole Time director and CFO, Ashok Leyland Ltd, Gopal Mahadevan, said, “With signs of slower demand, we are closely watching the developments in the industry. We continue to take cost out and drive productivity and growth initiatives.”