Ashok Leyland registered a turnover of Rs. 2,363.81 crore for the quarter ended June 30, 2013, against Rs. 3,026.89 crore in the same quarter in the previous year.
However, the company's cost control measures have helped it remain positive on the EBIDTA front. The company sold 14,900 vehicles during the quarter against 20,239 vehicles with domestic volume at 12,960 units (17,335), reflecting a drop of 25.2 per cent over the year-ago period.
Sales of the company’s successful small commercial vehicle ‘Dost’ stood at 6,824 units (7,248 units). Volumes from international operations stood at 1,940 units (2,904 units). The loss from operations before other income, finance costs and exceptional items, stood at Rs. 71.92 crore against a profit of Rs. 151.45 crore.
There was a net loss of Rs. 141.75 crore in the first quarter against a profit of Rs. 66.95 crore in the year-ago period.
Apart from a drop in volumes, heavier discounting of vehicles to compete in the marketplace further eroded profits, the company said in a statement.
Addressing shareholders here on Tuesday, Vinod K. Dasari, Managing Director, said “Although the entire commercial vehicle industry has had a very tough year, we have remained focussed on being future-ready by staying committed to our product development, network expansion and cost control programmes”.
“Although the market is still very volatile, there are some green shoots showing.
“However, while we cannot control the market, we are focussed on preparing ourselves for a revival which is bound to come hopefully sooner rather than later,’’ he said.
Keywords: Ashok Leyland