Ashok Leyland releases its second quarter report

CHENNAI - Expressing satisfaction at the performance of the company, K Sridharan, the Chief Financial Officer of Ashok Leyland group said that the share recorded by the industry major in the second fiscal quarter remained strong with 27 per cent share in the sales scenario of heavy vehicles.

Releasing the second quarter report of the Ashok Leyland group here, Sridharan said: ” I must say that the tractions continue to be very strong. More particularly on the heavy end segment, the multi-axle vehicle segment and the tractor trailer segment. The pricing that we took in June is more effective in July has now been accepted in the market and we don’t see any major issues going forward.”

He also cautioned the consumers that the change in emission standards, which are to be enforced from October 2010, could have an adverse impact on cost modalities.

“We need to see how the market reacts to this. I do not expect any adverse movement on the interest front, for the reasons I have been maintaining that the base rate affected would only be favouring the smaller borrowers,” he said.

“Though the company’s sales in the defence sector have dipped marginally, they would greatly boost bin the coming months,” he added.

Ashok Leyland, which is India’s heavy automobile industry giant, had recorded a jump in product sales recently as compared to last year. (ANI)