SML Isuzu Registers 42% Hike in Profit After Taxes
Published On Aug 08, 2016
The quarter reports of major truck brands have revealed mixed results in terms of profit. Indo - Japanese commercial vehicle maker SML Isuzu has registered a 42 percent hike in its profit after taxes. The profit was calculated after the quarter ended on June 30, 2016. The numbers stood at INR 42.12 crore after taxes. Total revenue was at INR 463.21 crore compared to INR 383.16 crore same time last year, up by 21 percent with total unit sales of 4,893 units this year.
The company has also decided to increase the production capacity of its Punjab plant from 1,500 units per month to 2,000 units per month. It will be done by setting up an additional assembly line at the plant costing INR 30 crore. However, this would be done by the half of next financial year of 2017-18.
In other news, India’s second largest commercial vehicle maker Ashok Leyland suffered a decline of five percent in its sales during July. It managed to sell 8,182 M&HCV units in July at seven percent loss compared to the last year’s July sales. The SCV segment, however, grew by four percent after remaining flat since last two months. It’s to be noted that the company earned hefty 101 percent profits at the end of first quarter. Eicher Motors also gained 66 percent profit at the first quarter end.