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Ashok Leyland, employees’ union sign 3-yr wage settlement pact

The company signed the wage-settlement agreement with the Ashok Leyland Employees Union earlier this month

January 27, 2014 11:48 IST | India Infoline News Service
Chennai-based Ashok Leyland Ltd has signed a three-year wage settlement pact with an employees’ union, covering over 3,000 workers at its Ennore plant, according to a media report.

The company signed the wage-settlement agreement with the Ashok Leyland Employees Union earlier this month, the report added.

Ashok Leyland registered a net loss of Rs. 1.67 billion in the third quarter compared to a net profit of Rs 740 million in the year-ago period.

For the nine months ended December 2013, sales revenue stood at Rs. 68.67 billion, down 21.5% from the Rs 87.53 billion in the year-ago period.

Net loss for the period stood at Rs. 3.34 billion compared to a net profit of Rs 2.84 billion in the corresponding period last year.

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