AL posts 52% drop in revenue
Ashok Leyland has posted a sharp drop of 52 per cent in its revenue at Rs 912.45 crore in the first quarter of the current year against Rs 1,887.99 crore in the corresponding quarter last year. Number of vehicles sold in the quarter dipped to 7,693 from 18,425. Similarly, profit after tax plunged to Rs 7.77 crore as against Rs 50.57 crore in the same period last fiscal.“This has been the worst quarter in a long time. However, market sentiments are improving and market demand derives further support from the bus orders under the JNNURM. We have bagged the largest share of the nearly 10,000 bus orders so far under the scheme. Our margins will benefit from the recent pricing action,” said Mr R Seshasayee, MD, Ashok Leyland.
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