Leyland eyes 5-10% rise in turnover

New Delhi, Dec 9: Commercial vehicle-maker Ashok Leyland expects to post a 5-10 per cent rise in revenue this fiscal, but said its vehicle sales may remain flat as compared to the previous year.

“This fiscal, our turnover should be 5-10 per cent higher than last year. Profits may also rise. However, number of vehicles sold is likely to remain the same as last year,” Ashok Leyland executive director (Marketing Division) Amol J Sandil said.

“We are gaining in profits because of a favourable product mix with higher value tipper, trucks and buses,” he said.

During April-September 2001-02, Leyland had posted a net profit of Rs 9.11 crore as against a net loss of Rs 4.76 crore in the same period last year. Turnover rose by 14.8 per cent to Rs. 1,220.5 crore from Rs 1,063.4 crore in the year-on-year period.

During April-October, the Hinduja Group flagship had recorded a 2.1 per cent drop in domestic sales at 14,817 vehicles.

While light commercial vehicles (LCV) sales fell by 8.9 per cent to 174 units, medium and heavy vehicles slipped 2 per cent to 14,643 units.
Overall, domestic commercial vehicle sales, an indicator of economic growth, went down by 3.8 per cent to 67,823 units during the first seven months of this fiscal.

Mr Sandil said Leyland’s exports would marginally increase is fiscal over 2,500 vehicles exported in 2000-01.

During the first seven months of this fiscal, the company’s exports had, however, dipped by 50.2 per cent to 1,135 vehicles.

— PTI