Ashok Leyland reduces net loss in Q1

Ashok Leyland has reduced its net loss to Rs.48 crore for the quarter ended June 30, 2014 when compared with a net loss of Rs.142 crore in thea year-ago period, on the back of better operating profit. Net sales of the company were up five per cent at Rs.2,435 crore when compared with Rs.2,313 crore in Q1 of previous fiscal. Profit from operations before other income, finance costs and exceptional income stood at Rs.13 crore as against a loss of Rs.72 crore in the year-ago period.

“Enhanced sales realisation through better pricing, a tight rein on costs, and a better sales mix, have resulted in a much stronger performance than Q1 FY 2014”, said Mr. Vinod K Dasari, Managing Director, Ashok Leyland. The company’s total medium and heavy commercial vehicle sales for the quarter stood at 14,949 units (14,900 units).