The Hinduja Group company on Thursday (19 January 2023) announced that it will supply 500 buses to Sri Lankan Transport Board (SLTB).
Sri Lanka Transport Board is the state owned single largest bus transport provider with 110 depots throughout the Sri Lankan island, and operates buses in city routes, hilly & rural routes and also long distance inter-city routes. These buses will help combat the heavily crowded public transport in the island nation, supporting mobility and accessibility in Sri Lanka.
As a part of the order, the company recently delivered 75 buses to the nation on its Independence Day. The order is a part of a line of credit extended by Export Import Bank of India, under the Economic Assistance Scheme of Indian Government, the company stated in the press release.
Amandeep Singh, president - international operations of Ashok Leyland, said, More than 5,000 Ashok Leyland buses are currently in operation with SLTB and these new 32 seater buses are expected to be put into operation in rural routes throughout the island. Ashok Leyland buses and trucks are also manufactured in Sri Lanka, and the brand "Lanka Ashok Leyland" is well known among Sri Lankans for their daily transportation requirements. Ashok Leyland is proud of its long-standing partnership with the Sri Lankan government.
Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.
The company reported a net profit of Rs 199 crore in Q2 FY23 as against a net loss of Rs 83 crore in Q2 FY22. The revenues for the quarter stood at Rs 8,266 crore as against Rs 4,458 crore in Q2 FY22.
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Shares of Ashok Leyland fell 0.78% to Rs 146.20 on the BSE.
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