Two-wheeler manufacturer LML Ltd today said it was confident of posting profits this fiscal, riding piggy-back on its three new motorcycles, including one which was launched today, and a 4-stroke gearless scooter.
The company, which earlier manufactured only scooters, found its bottomline sagging in the past two years, with demand for scooters giving way to motorbikes, not to forget its split with Piaggio SpA of Italy a few years ago. Deepak Singhania, managing director, today said that as of date accumulated losses have touched Rs 70 crore, of which Rs 60 crore were accrued last fiscal. But he was hopeful that the 110cc four-stroke motorcycle, Freedom, launched today, will change the company