Ashok Leyland net loss narrows to ₹83 crore
The Hindu
Cost of raw materials zooms 61%
Commercial vehicle manufacturer Ashok Leyland Ltd.’s standalone net loss for the second quarter ended September narrowed to ₹83 crore from ₹147 crore a year earlier.
Revenue from operations rose 57% to ₹4,426 crore, while cost of materials zoomed by more than ₹1,100 crore to ₹3,093 crore. Total expenditure grew 52% to ₹4,595 crore, the company said in a regulatory filing.
“The industry has seen signs of volume recovery in Q2 FY22 over the same period last year, and we remain confident and optimistic about the future. The economy is showing signs of return to growth... ALL will continue to build competitive products and organisational capabilities for future growth,” said Vipin Sondhi, MD and CEO.
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