The Chennai-based company reported a net profit of ₹27.7 crore in the corresponding quarter. On a sequential basis though the net loss reduced substantially from ₹146.6 crore reported in the September quarter as sales of its commercial vehicles improved as a result of gradual recovery in economic activity. On a month-on-month basis revenue jumped from ₹2836.58 crore in the September quarter as sales of vehicles improved with the unlocking of the economy. Due to the adverse impact of increase in commodity prices the operating margins contracted by 30 basis points to 5.3%. Ashok Leyland’s net debt also reduced from ₹2880 crore at the end the December quarter from ₹3076 crore September quarter.

Source: Mint February 11, 2021 17:03 UTC