Force Motors Q4 net up 59% at Rs 74 cr

Pune-based automobile manufacturer Force Motors has reported 59% growth in net profit at Rs 74 crore for the fourth quarter ended March 31, 2016 (Q4FY16), on the back of robust operational income.

Net sales of the company increased by 30%.

All of its products contributed to the growth. The company continues to focus in the utilitarian and rural vehicles. The growth in tractors has been achieved on a background of poor monsoon and strained agri-economy, Force Motors said in a statement.

Also, a significant addition to the top line was achieved with the fully  operational engine factory at Chennai for supply to BMW India. This is besides the good growth in the engine and axles business with Mercedes Benz India has helped the company to boost the sales.

Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved 300 basis points to 11.9%  from 8.57%.

Profit in financial year 2015-16 grew by 77% to Rs 179.4 crore and revenue jumped 29.4% to Rs 3,059.8 crore compared to previous year.