Ashok Leyland sales decline by 10% in July 2014

Ashok Leyland sold 7847 units in July 2014 as against 8746 units sold in July 2013, recording a decline of 10%. The sales for M&HCV for the period drop 8% while LCV declined by 15%.

The cumulative sales for the April to July period of FY 2014-15 stood at 27787 units against 30470 units recorded during the same period in previous fiscal year, registering a decline 9%. M&HCV sales drop by 2% while LCV sales declined by 23%.

First Quarter Financial Result

The Company registered a 4.8% increase in turnover - Rs. 2,477.80 crores for the quarter ended June 30, 2014, as against Rs. 2,363.81 crores of the corresponding quarter in 2013. An EBITDA margin of 4.7% for the first quarter reflects the Company’s efforts at improving net realization, reducing material costs, and controlling operating overheads; and is a significant improvement over 1.0% for the corresponding quarter of the previous fiscal year.

The company made a net loss of Rs. 47.95 crores, significantly lower than the net loss of Rs. 141.75 crores in the same period last year.

Speaking about the company’s performance, Mr. Dasari said, “Although TIV dropped by 10%, we increased our share by 2.3% - largely on account of the outstanding performances of our ICV, tipper, and tractor segments. Our new products such as BOSS continue to perform exceedingly well, and several variants are planned in our LCV range as well. We are also quite excited about the prospects of CAPTAIN and JANBUS. We are confident the market will strengthen and we will continue our efforts at offering class-leading products and services to our customers.”

Source - Autobei

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