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Ashok Leyland also brought down net debt from Rs 3,076 crore in the second quarter to Rs 2.880 crore in the third quarter.

Ebitda declined by 65% to Rs 80 crore while Ebitda margin contracted by almost 3 percentage points to 2.8%.

Revenue from operations declined 8 per cent during the quarter under review to Rs 6,612.42 crore.

This increase in price is owing to rising input costs and implementation of AIS 40 regulation, the company said in a statement.

Ashok Leyland sold 12,057 units in September 2016, as against 14,783 units during the same month last year.