Ashok Leyland’s Q3 FY ’21 revenue increases by 70%
Ashok Leyland, flagship of the Hinduja Group reported that a 70% growth in consecutive quarter earnings in Q3 FY21. The earnings for the quarter stood in Rs. 4814 crores according to Rs. 2837 crores in Q2 FY’21 and Rs. 4016 crores exactly the same period this past year. The Business reported an EBITDA of 5.3% for Q3 FY21 from an EBITDA of 2.8% in Q2 FY’21 and 5.6% in Q3 FY20.
Throughout Q3 FY21, year annually AL truck volumes have increased at nearly twice the speed of the business. AL's trucks Market Share for Q3 FY’21 has consequently improved to 28.1percent as against 24.9percent in Q3 FY'20.
Ashok Leyland's national LCV volumes for Q3 FY21 in 15,991 nos. Is greater by roughly 46% over Q2 FY’21 (10,952 nos) and higher than Q3 FY’20 by 27% (12574 nos.)
Exports volumes for Q3 in 2941 nos. Is doubled over Q2 FY21 (1491 nos) and can be greater than Q3 FY20 by 24% (2,371 nos).
The business reported a net loss of Rs 19 Crores for Q3 FY’21 (this includes a one- period VRS price of Rs 85 Crores), according to a Net reduction of Rs. 147 crores in Q2 FY21 plus a net gain of Rs. 28 Crores at Q3 FY20.
After the successful launches of its Modular Platform AVTR and Bada Dost, the Business continued with its product starts of Boss LE and LX at the ICV section during Q3 of this present year. These products were launched together with the advanced i-Gen6 (Mid-NOx) technologies that have been well received by clients, helping the company increase its market presence.
The worldwide automotive industry was influenced by the limitations in provision of Electronic Control Units (ECUs) because of this non-availability of Semi-Conductors. Indian automotive industry was no exception. The organization's management is closely monitoring the situation since this could have an effect on future volumes in case the limitations don't facilitate.
Mr. Vipin Sondhi, MD & CEO, Ashok Leyland Limited stated"we've observed a marked improvement from the organization's performance in this quarter. Our recently launched products and our advanced i-Gen6 (Mid-NOx) BS6 alternative have demonstrated their mettle throughout the markets. Another invention, the"Digital Nxt", an industry-first mixture of three advanced electronic options has become exceedingly popular with fleet owners using an increasing number of users getting on into the stage, deriving advantages of our electronic Programs.
Mr. Gopal Mahadevan, Director & CFO, Ashok Leyland additional,"The operation with this quarter which caused a positive EBITDA of 5.3 percent was made possible due to the earnings enhancement and operational performance initiatives of the business during hard times. LCV, After Market, Defence and Power Solutions companies have performed well throughout the quarter. The concentrate on resetting the working cost to earnings and content price optimization will last."