Mumbai: Ashok Leyland Ltd has reported a sharp decline of 57% year-on-year in its standalone revenue from operations, which stood at ₹3,838 crore for the March quarter on steep fall in sales.
The commercial vehicle or CV manufacturer’s standalone revenue was at ₹8,846 crore for the year-ago period.The company has posted a loss of ₹57 crore for the March quarter as against the net profit of ₹653 crore for the year-ago period.The CV maker, which was already grappling with reduced demand in line with the industry on the back of the unprecedented economic slowdown and the impact of new axle load norms over the past 5-6 quarters, saw sales reduced to a fraction in March due to the pandemic-induced lockdown.It had reported sales of only 2,179.
Read more on livemint.com