"The industry has witnessed a 53 per cent decline in volumes. Volumes for Ashok Leyland
also witnessed a significant drop in this quarter, despite this, we have been able to achieve an EBITDA of 5.8 per cent. Some of the cost management programs initiated early this year have yielded benefits and are reflected in the results," Dheeraj G Hinduja, chairman, Ashok Leyland
Ltd said in a statement.
Early this month, Ashok Leyland said it would observe non-working days ranging from 0-12 days during month of November 2019. "We hereby inform you that in order to align production in line with the market demand for our products, the company proposes to observe non-working days ranging from 0-12 days during the month of November," the company said in a BSE filing.
In the previous month, too, the truck maker had suspended manufacturing at its various plants for up to 15 days in order to adjust production to market demand.