Ashok Leyland Q2 net profit drops 93%

Ashok Leyland incurred a 92.61% slump in net profit to Rs 39 crore for the second quarter.

The commercial vehicles maker had reported a net profit of Rs 528 crore in Q2 September 2018.

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Revenue stood at Rs 3,929 crore for the second quarter, down 48.45% compared with Rs 7,621 crore in the year-ago period.

Profit before tax (PBT) for the quarter was at Rs 84 crore in Q2 September 2019, a decline of 87.79% compared with PBT of Rs 688 crore in Q2 September 2018.

Shares of Ashok Leyland fell 0.13% to Rs 76.60 on Friday, 8 November 2019.

Ashok Leyland is engaged in commercial vehicles and related components. Through its subsidiaries, it is engaged in manufacturing and trading in medium and heavy commercial vehicle, light commercial vehicles, passenger vehicles, automotive aggregates, vehicle financing and engineering design services.

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