Comments
Commercial vehicle manufacturer Ashok Leyland which has reported a modest profit for the third quarter of 2014-15 is confident that the domestic market is reviving.
The company has reported a 37 per cent growth in commercial vehicle sales during the quarter ended December 31, 3014, as compared with the corresponding quarter previously. The growth has been from Medium and Heavy Commercial Vehicle (M&HCV) segments while sales of Light Commercial Vehicles (LCV) dropped.
According to a press release from the Hinduja Group company it has reported a net profit of ₹ 32.09 crore (net loss: ₹167.20 crore on a total income of ₹ 3,360.99 crore (₹ 1953.21 crore) for the quarter ended December 31, 2014.
The release quoting Vinod K Dasari, Managing Director, Ashok Leyland, said apart from export orders from Sri Lanka and Africa, the company hopes to enter new markets, expand net work and open small assembly centres overseas along the lines of its facility in Ras Al Khaimah (UAE). There are reasons for optimism in the domestic market as sales pick up.
During the quarter vehicles sales were 25,424 units (18,453) with M&HCV sales of 18,279 units (10,698) representing a 71 per cent growth over the comparable quarter and LCV sales of 7,145 units (7,755) which was 8 per cent lower than previously.
On the BSE the company’s shares of ₹1 closed 3 per cent lower at ₹ 66 against the previous close of ₹68.20.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.