Ashok Leyland has churned out robust financial numbers for 2015-16 with profit after tax (PAT) jumping 375 per cent to Rs.1,111 crore against Rs.233.90 crore in the preceding year. Even after making for exceptional provisions to the tune of Rs.389 crore for impairment of investment in certain joint ventures, the profit stood at Rs.722 crore against Rs.335 crore in the previous year.
The turnover increased rose to Rs.13,562 crore from Rs.18,822 crore, a rise of 39 per cent. For the quarter ended March 2016, the PAT before exceptional provisions stood at Rs.456 crore as against Rs.238 crore in the same quarter last year. Revenue for the quarter under review was Rs.5,955 crore, a rise of 32 per cent.
Addressing a press conference here on Wednesday, Vinod K. Dasari, Managing Director, said 2015-16 had been a best year for the company with all critical numbers showing healthy trends. According to him, assorted factors such as rise in sales volume, reduction in operating costs and robust product mix had all combined to make 2015-16 a "fulfilling year’’ for Ashok Leyland.
The company had also fully made provisions for impairment in investment in joint ventures with Nissan of Japan. It had invested around Rs.510 crore in its ventures with Nissan.
