Commercial vehicle maker Ashok Leyland posted a net loss of Rs 167 crore against a profit of Rs 74.2 crore (Y-o-Y) in its third quarter due to very low volumes, high discounts and high interest and depreciation cost. The total income of the company stood at Rs 1,953.2 crore against Rs 2,380 crore on a year-on-year basis.
Also Read: CV space headed for disaster if no revival in next 6 months
According to CNBC-TV18 poll, the company was expected to post a net loss of Rs 170 crore during December quarter. Revenues were seen declining 19 percent year-on-year to Rs 1,935 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
