The continuing slowdown in the Commercial Vehicle business and a YOY drop of 32% in Total Industry Volume (TIV) in Q3 reflected in Ashok Leyland’s performance with Company revenue for the quarter closing at Rs.1,953 crores (Rs. 2,406 crores same period last year) with a net loss (PAT) of Rs. 167 crores (PAT Rs. 74 crores, same period last year).
The quarter saw the launch of the critically acclaimed ICV truck, BOSS and MPV STiLE. Ashok Leyland gained market share in the trucks business buoyed by the success of the BOSS in every market where it has been launched.
“We are enthused by the extremely encouraging response to BOSS, our breakthrough product in the ICV segment. Launched across five states, the momentum BOSS has already achieved has been quite remarkable. BOSS was adjudged ‘Commercial Vehicle of the Year’ across segments and ‘ICV Cargo Carrier of the Year’ at the recently concluded CV Awards. STiLE, the new MPV from the Ashok Leyland-Nissan stable, was declared the NDTV ‘MUV of the Year’, the DNA ‘MPV of the Year’ and the CV ‘SCV People Mover of the Year’ and the product has been received very well,” said Vinod K. Dasari, Managing Director, Ashok Leyland.
In line with its policy of ensuring fiscal prudence, the company is working to lower costs, reduce debt and divest non-core assets. There has been a significant reduction in operating costs and lowered working capital; including a VRS for about 500 executives.
The quarter saw the launch of the critically acclaimed ICV truck, BOSS and MPV STiLE. Ashok Leyland gained market share in the trucks business buoyed by the success of the BOSS in every market where it has been launched.
“We are enthused by the extremely encouraging response to BOSS, our breakthrough product in the ICV segment. Launched across five states, the momentum BOSS has already achieved has been quite remarkable. BOSS was adjudged ‘Commercial Vehicle of the Year’ across segments and ‘ICV Cargo Carrier of the Year’ at the recently concluded CV Awards. STiLE, the new MPV from the Ashok Leyland-Nissan stable, was declared the NDTV ‘MUV of the Year’, the DNA ‘MPV of the Year’ and the CV ‘SCV People Mover of the Year’ and the product has been received very well,” said Vinod K. Dasari, Managing Director, Ashok Leyland.
In line with its policy of ensuring fiscal prudence, the company is working to lower costs, reduce debt and divest non-core assets. There has been a significant reduction in operating costs and lowered working capital; including a VRS for about 500 executives.
