The Hindu : Business : `LML to return to profit in Q4'

Online edition of India's National Newspaper
Thursday, Aug 11, 2005

Business

Business

`LML to return to profit in Q4'

Special Correspondent

New 100 cc offering priced at Rs. 31,000

ON A TURNAROUND PATH: The Managing Director of LML, Deepak Kumar Singhania, launching the new motorcycle, CRD 100, in New Delhi on Wednesday. — Photo: S. Subramanium

NEW DELHI: After suffering losses for over three years continuously, LML on Wednesday announced that it was on the path of turning the company around and would return to the black in the fourth quarter of this financial year.

The company is confident of writing a comeback story through a new 100-cc bike launched in the market developed at a cost of Rs. 8-9 crore.

"We have reduced losses in the first quarter ended June 30 this year. We expect to be fully earnings before interest, taxes, depreciation and amortisation positive in the third quarter," LML Managing Director Deepak Singhania said while addressing media persons at the launch function. The company's new 100-cc offering, CRD 100, was being made available in two variants and priced at Rs. 31,430 and Rs. 32,430 (ex-showroom Uttar Pradesh). The bike, initially rolled out from Uttar Pradesh, would be available in major parts of north, central and eastern India by September, he said.

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