Companies

Ashok Leyland prunes losses with cost-cutting

Our Bureau Chennai | Updated on November 25, 2017




Aggressive sales and cost control have helped Ashok Leyland reduce its losses during the first quarter of the current year compared with the corresponding quarter in the previous year.

The company reported a net loss of ₹47.95 crore (₹141.75 crore) on a total income of ₹2,477.80 crore (₹3,076.77 crore) for the quarter ended June 30, 2014.

According to a press release from the commercial vehicle manufacturer, it sold 14,949 medium and heavy commercial vehicles during the quarter against 14,900 units in the comparable quarter previously.

Sale of light commercial vehicles was 5,032 units (6,824 units).

The press release quoting Vinod K Dasari, Managing Director, said the company has gained market share in medium and heavy commercial vehicles even as the industry volumes dropped.

Better sales realisation and sales mix have contributed to the performance, he said.

On the BSE, the company’s shares closed lower at ₹33.80 against the previous close of ₹34.15.

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Published on July 25, 2014
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