Ashok Leyland reported 14.75% growth in gross revenues for the Dec-20 quarter on consolidated basis at Rs5,954.17cr. The predominant commercial vehicles vertical saw a 16% growth at Rs5,123cr. The financial services group also saw the top line grow 7.50% at Rs832cr in the Dec-20 quarter. The CV business has also shown robustness although it is less related to the festive season and more to a bounce in industrial output.
For the Dec-20 quarter, the consolidated operating profits were down -6.52% at Rs534.10cr. This fall in operating profits was largely on account of a spurt in raw material and input costs which went up 90% on a yoy basis. Even in the case of the financial services business the interest outflows remained sticky. As a result, OPM tapered sharply from 11.01% in Dec-19 quarter to 8.97% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was sharply down -46.85% at Rs14.24cr as the company also took an exceptional write-off of Rs46cr on account of the voluntary retirement scheme or VRS offered to employees of the discontinued LCV division. PAT margins also fell very sharply from 0.52% in the Dec-19 quarter to 0.24% in the Dec-20 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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|
Ashok Leyland |
|
|
|
|
|
Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 5,954.17 |
₹ 5,188.84 |
14.75% |
₹ 3,852.84 |
54.54% |
|
Operating Profit (Rs cr) |
₹ 534.10 |
₹ 571.35 |
-6.52% |
₹ 387.48 |
37.84% |
|
Net Profit (Rs cr) |
₹ 14.24 |
₹ 26.79 |
-46.85% |
₹ -122.95 |
-111.58% |
|
|
|
|
|
|
|
|
Diluted EPS (Rs) |
₹ 0.05 |
₹ 0.09 |
|
₹ -0.42 |
|
|
OPM |
8.97% |
11.01% |
|
10.06% |
|
|
Net Margins |
0.24% |
0.52% |
|
-3.19% |
|
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