Ashok Leyland's LCV business turns around, posts Rs 1.34 bn profit in FY18

Ashok Leyland Vehicles Ltd (formerly Ashok Leyland Nissan Vehicles Ltd) had reported a loss of Rs 24.9 mn the previous financial year

Ashok Leyland's LCV business, originally floated as a joint venture with Japanese automajor Nissan and later bought over by the Indian partner, has turned around during the financial year ended March 2018.

Ashok Leyland Vehicles Limited, formerly known as Ashok Leyland Nissan Vehicles Ltd, has reported a profit of Rs 1.34 billion in FY18 as against a loss of Rs 24.9 million the previous financial year. In 2015-16, the loss in this business stood at Rs 618.7 million. Turnover rose to Rs 16.47 billion in 2017-18, from Rs 2.81 billion in 2016-17.

The company is engaged in developing, manufacturing and