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Ashok Leyland tumbles after weak Q3 result


Ashok Leyland slumped 4.15% to Rs 129.40 after the company posted a standalone net loss of Rs 19.38 crore in Q3 FY21 as against net profit of Rs 27.75 crore in Q3 FY20.The profit was impacted by a one-time expenditure of Rs 85 crore in Q3 FY21 towards a voluntary retirement scheme (VRS).
Net sales jumped 20.5% to Rs 4,789.82 crore in Q3 FY21 over Q3 FY20. The result was announced after market hours yesterday, 11 February 2021.
The commercial vehicle maker posted a pre-tax loss of Rs 18.25 crore in Q3 FY21 as against a pre-tax profit of Rs 54.17 crore in Q3 FY20. The company reported an EBITDA margin of 5.3% for Q3 FY21 as against an EBITDA of 2.8% in Q2 FY21 and 5.6% in Q3 FY20. The company has brought down net debt to Rs 2880 crore in Q3 from Rs 3,076 crore in Q2FY21. ....

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