Force Motors domestic sales jump 83% YoY

Force Motors said that its total auto production in December 2021 was 1,609 units, increasing nearly 28% YoY and 41.7% month on month basis.

The company recorded domestic sales of 1,442 units, rising 83% year on year and 86.7% on month-on-month basis. Exports in December 2021 stood at 215 units, falling 27.6% on a year on year basis and 40.6% on a sequential basis.

The announcement was made during market hours today, 5 January 2022.

Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. It is an automobile company, with a focus on design, development and manufacture of a range of automotive components, aggregates and vehicles.

The company reported a consolidated net loss of Rs 1.07 crore in the quarter ended September 2021 as against net profit of Rs 14.03 crore during the previous quarter ended September 2020. Net sales rose 35.01% YoY to Rs 937.74 crore in Q2 FY22.

Shares of Force Motors were trading 0.75% higher at Rs 1,258 on BSE.

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