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Ashok Leyland Ltd Q1FY21 consolidated loss at Rs. 409.08 crore
Posted On : 2020-08-12 20:41:33( TIMEZONE : IST )
ASHOK LEYLAND LTD. has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.1511.69 crores during the period ended June 30, 2020 as compared to Rs.5088.04 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.(409.08) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.18.07 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.(1.39) for the period ended June 30, 2020 as compared to Rs.0.06 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 1511.69 crs | ₹ 5088.04 crs |  -70.29% |
| Net Profit | ₹ (409.08) crs | ₹ 18.07 crs | -2363.86% |
| EPS | ₹ (1.39) | ₹ 0.06 | -2416.67% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.1511.69 crores during the period ended June 30, 2020 as compared to Rs.5588.23 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.(409.08) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.247.21 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.(1.39) for the period ended June 30, 2020 as compared to Rs.0.84 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 1511.69 crs | ₹ 5588.23 crs | -72.95% |
| Net Profit | ₹ (409.08) crs | ₹ 247.21 crs | -265.48% |
| EPS | ₹ (1.39) | ₹ 0.84 | -265.48% |
During the quarter the Company successfully introduced its AVTR Range of Modular Vehicles in the Heavy Commercial Vehicle segment as also a completely differentiated Intermediate Commercial Vehicle range of vehicles. The BS VI "MidNox" technology of the Company provides superior "Fluid Efficiency". Both the AVTR range and "Mid-Nox" have been received very well by customers.
Mr. Vipin Sondhi, MD & CEO Ashok Leyland Limited said, "With the pandemic hitting us, this has been one of the most challenging quarters for the industry. We saw a significant decline in volumes, consequently, Ashok Leyland also saw a reduction in volume, affecting the financial performance of the company adversely.
Despite the challenging times we went ahead and launched the unique Modular Business Platform "AVTR", which gives our customers the flexibility to choose vehicles as per their requirements. This will be a game changer in the industry and we have already rolled out over 2000 of these vehicles till date this year and together with our LCV range we have already rolled out 10000 BS VI vehicles. This is indeed a very encouraging sign for the quarters to follow."
Mr. Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland Limited said, "This is an exceptional quarter not just for the industry but also for the entire economy. We have used this time to drive disruptive cost efficiencies and productivity measures. The focus was also on maintaining liquidity, not just of the company but also our dealers and vendors. There have been tremendous learnings for us in doing business efficiently without dropping the ball on growth initiatives. We will come out of this much stronger."
Shares of ASHOK LEYLAND LTD. was last trading in BSE at Rs.53.95 as compared to the previous close of Rs. 52.2. The total number of shares traded during the day was 2241940 in over 5564 trades.
The stock hit an intraday high of Rs. 54.15 and intraday low of 51.85. The net turnover during the day was Rs. 119150573.
