Ashok Leyland has come a long way since experiencing firsthand the vagaries of the macro economy. It’s now looking to reduce its dependence on trucks.
The trucking sector rolls on the wheels of the macroeconomy. The former’s fate has almost always been closely intertwined with the latter. Just ask Ashok Leyland about its bumpy ride between 2012 and 2014.
In FY13, the truck maker’s revenues dipped 2.63 percent from the previous year, while profits slumped 23 percent. The following fiscal, revenues dropped another 20 percent to ₹10,010 crore and the firm posted a paltry ₹29 crore in profit.
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