New Delhi:
Home-grown business car maker Ashok Leyland reported a consolidated revenue of INR 21.94 crore within the June quarter over a consolidated lack of INR 252.18 crore within the corresponding quarter a 12 months in the past.Meanwhile, the corporate’s income from operations jumped to INR 8434.66 crore in Q1 FY23 as in comparison with INR 4070.34 crore in the identical interval a 12 months in the past.
According to Dheeraj Hinduja, Executive Chairman, Ashok Leylond, the business has seen sturdy quantity development in Q1 FY’23, and the corporate expects this pattern to proceed going ahead.
“The staff is targeted on market efficiency whereas controlling prices this quarter. Our digital-first method helps Ashok Leyland prospects enhance their enterprise effectivity and we’re persevering with to broaden our choices. We are happy that we’ve continued to develop our market share. With our strong LHD portfolio we’re intensifying our International growth technique,” he said.
Hinduja further said that through its Electric Vehicle subsidiary, Switch Mobility, the company is taking strategic steps to move towards net zero carbon mobility.
“The EV market is increasing quick and we’re able to take part on this development. We are dedicated to realize our sustainability agenda with a transparent street map,” he added.
EBITDA for Q1 FY23 was at INR 320 crore as against a loss of INR 140 crore in the previous year. Net Debt to Equity was at 0.3 times compared to 0.6 times in Q1 last year.
Gopal Mahadevan, Director & CFO, Ashok Leyland, said, “With growth in revenues and environment friendly value administration we’ve seen our backside line bettering. The softening of commodity costs, specifically for metal, ought to impression our margins positively. The focus is on Customer, Cost and Cash.”
The company’s domestic light commercial vehicle (LCV) volume in Q1 FY23 was 14,384 units which is 66 % higher than Q1 of last year. Overall export volume for Q1 FY23 stood at 2,527 units, up 76% over that in Q1 FY22.
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Source: auto.economictimes.indiatimes.com