Auto slowdown impact: Ashok Leyland PBT drops by 89% in Q3 on lower volumes

Total income plunges to Rs 4,038 cr from Rs 6,346 cr; firm continues with cost-paring measures

Commercial vehicle major Ashok Leyland has reported an 89 per cent decline in profit before tax at Rs 54.17 crore for the quarter ended December 31, 2019 from Rs 483.57 crore, a year ago. The company's total income slid to Rs 4,037.98 crore from Rs 6,346.04 crore on the backdrop of slowdown in overall sales.

Vipin Sondhi, MD & CEO, Ashok Leyland Limited said the industry continued to witness a decline in volume (around 39 per cent during the quarter). Volumes at Ashok Leyland also dropped in this quarter. Despite this, the company was able to achieve an EBITDA of