Ashok Leyland reports net loss of Rs 19 cr in Q3

Commercial vehicle maker Ashok Leyland on Thursday reported a net loss of Rs 19 crore for the third quarter ended December 31, 2020.

The company had reported a net profit of Rs 28 crore in October-December quarter of 2019-20.

The revenues for the third quarter on a standalone basis stood at Rs 4,814 crore as compared with Rs 4,016 crore in the year-ago period, Ashok Leyland said in a statement.

The company said its domestic light commercial vehicle (LCV) volumes during the third quarter stood at 15,991 units, up 3 per cent from 12,574 units in the same period of previous fiscal.

Export volumes during the period under review stood at 2,941 units, up 24 per cent from 2,371 units in October-December period of of 2019-20.

''We have seen a marked improvement in the company's performance in this quarter. All our newly launched products and our innovative i-Gen6 (Mid-NOx) BS6 solution have proved their mettle across the markets,'' Ashok Leyland Managing Director and Chief Executive Officer Vipin Sondhi said.

The company had reported a net loss of Rs 147 crore in the second quarter of the current fiscal. Revenues during the period stood at Rs 2,837 crore.