Ashok Leyland Registers 39 Percent Growth for FY 2015-16
Published On Jun 29, 2016
India’s second largest commercial vehicle maker Ashok Leyland has surged as one of the most prolific profit gainers in Fiscal Year 2015-16. The Hinduja group subsidiary which is based out of Chennai, Tamil Nadu registered 39 percent hike is turnover, that is INR 18,822 crore. The same number during the Fiscal Year 2014-15 stood at INR 13,562 crore. The net profit also took a leap of nearly 50 percent with a staggering number of INR 722 corer in FY 2015-16 compared to INR 335 crore in FY 2014-15.
Crunching the numbers in terms of units sold, Ashok Leyland managed to sell whooping 98,809 in Medium and Heavy Commercial Vehicle (M&HCV) niche with percentage growth of 32.7 percent. The company also sold 30,965 units of small commercial vehicles (SCV), however, its export took a fall by 2 percent. Although the company did suffice to grab some defense vehicle deals and is in proximity to close another deal with Malawi government for 500 vehicles.
With stagnation period over in Indian CV industry, all the major OEMs are looking positively towards FY 2016-17 for more sale volumes. Energetic about the company’s strong show, Mr. Vinod Dasari, MD, Ashok Leyland said, “It has been a successful and fulfilling year for us. All our efforts over the last year in pruning costs while at the same time investing in new products and network have helped us transform the company. We are now poised to seize the opportunity the market presents in the immediate future.”
“All this has been achieved with the valued support of our suppliers and dealers who have taken us from strength to strength. While we strengthened our presence across the country the year also witnessed our expanded presence across the globe,” he added further.