Ashok Leyland Q4 profit drops 67 pct

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Chennai | Updated: May 26, 2016 8:13:25 AM

Hit hard by the provisions for impairment in investments, Hinduja Group's flagship company Ashok Leyland has reported a 66.52% drop in its net profit...

Hit hard by the provisions for impairment in investments, Hinduja Group’s flagship company Ashok Leyland has reported a 66.52% drop in its net profit for the quarter ended March 31, 2016 to Rs 77.02 crore as compared to Rs 229.97 crore in the same quarter last fiscal.

The profit after tax before exceptions during the quarter stood at Rs 456 crore as against Rs 238 crore same period last year, registering a growth of 91%.

The EBITDA for the fourth quarter of FY16 was at Rs 753 crore as compared to Rs 457 crore the comparable period of the previous fiscal. The debt equity ratio at the end of the year was 0.24 :1 as against 0.75:1 last year. The company said that it will review portfolio of investments and will rationalise the same to reduce the debt levels.

The revenue during the quarter increased by 32% to Rs 5,955 crore as compared to Rs 4,506 crore in the same period last year. For the full year, the company registered a 39% increase in turnover to R18,822 crore.

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