Scooters India Limited, the troubled state owned firm is aiming to reduce its losses to Rs 17.9 crore in the current financial year from Rs 18.4 crore in the last fiscal. The target will be achieved by enhancing the production and reducing the overall operational cost. The primary production of the firm is three-wheelers.
While the production will be increased by 10 percent, while the operational cost will be reduced by 5 percent. The sick firm is expected to register an increase of Rs 223.02 crore in the current fiscal as compared to 171.2 crore registered in the last fiscal.
It is to be mentioned here that the firm is incurring losses since year 2002-2003. The government had decided to divest its entire 95% in the Scooters India Limited, in the month of May 2011.
Started its operations in year 1972, Scooters India Limited commenced its producing scooters in both domestic and overseas markets, under the brand name of Vijai Super and Lambretta for overseas market. After a few years, the firm entered into a venture with Vikram brand for three-wheelers. The firm than given-up on the production of two-wheelers in year 1997, and started fully focusing on producing of three-wheeler.
