Force Motors Q3 net profit soars 93%

Force Motors today reported 93.03 per cent increase in its net profit for the quarter ended December 31, 2010, at Rs 13.57 crore on account of robust demand.

The company had posted a net profit of Rs 7.03 crore in the corresponding period previous fiscal, Force Motors said in a statement.

The net sales during the quarter also jumped by 67.32 per cent to Rs 362.36 crore from Rs 216.57 crore in the year-ago period, it added.

"Sales of all vehicle categories, such as small commercial vehicles, utility vehicles and light commercial vehicles continue to show healthy growth. The sales of Traveller and the new SCV 'Trump 40' have been especially strong," Force Motors Managing Director Prasan Firodia said.

The company is likely to launch a new sports utility vehicle in the mid-premium segment during the first quarter of the next financial year, he added.

Shares of the company today closed at Rs 841 a piece on the Bombay Stock Exchange, down 2.58 per cent from its previous close.