This is in comparison to the Rs 36.73 crore loss incurred in the corresponding period of the previous year.

ALL, during April-September '99, has sold 15,449 vehicles as against 12,081 units in the first six months of last year. This has resulted in the turnover increasing by 27 per cent to Rs 1092.88 crore (Rs 858.68 crore).

Stringent overhead and material cost control has enabled the company to achieve a 61 per cent increase in operating profit to Rs 80.85 crore (Rs 50.35 crore).

This, despite the turnover increasing by only 27 per cent and the sales realisations remained more or less static. Margins at operating level improved by 1.5 per cent.

ALL has also managed to effect substantial savings in interest cost on

account of better working capital management and swapping of high cost debt with low cost ones. Interest cost for the period at Rs 39.27 crore (Rs 56.91 crore) was lower by 31 per cent.

Depreciation charge is higher at Rs 41.40 crore (Rs 37.01 crore) while a tax provision of Rs 0.41 crore has been made.

ALL has maintained its marketshare of 34.9 per cent despite fall in offtake by state transport undertaking in which segment ALL is traditionally strong. The company hopes to close the year 1999-2000 with a 20 per cent increase in it topline. For 1998-99, the company has posted a turnover of Rs 2051.50 crore and a net profit of Rs 20.37 crore.

ALL proposes to launch Euro I compliant vehicles in October-December quarter. These vehicles will be on existing engine platforms viz. AL, Hino and Iveco. According to the company statement, the launch has been timed so as to ensure that market gets familiar with vehicles well in advance to the March 2000 deadline.