Force Motors gains after March'22 production and sales figures

Force Motors rose 1.68% to Rs 1195 after the company's domestic sales increased by 46% to 2,392 units in March 2022 from 1,633 units sold in March 2021.

As compared with February 2022, the domestic sales are higher by 120%.

Export sales aggregated to 298 units, down 30% on a year-on-year (YoY) basis but up 32% on a month-on-month (MoM) basis.

The company's production in March 2022 was 1,830 units, down by 7% from 1,971 units produced in March 2021. The production has increased by 18% from 1,545 units produced in February 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 42.84 crore in the quarter ended December 2021 as against net loss of Rs 18.98 crore during the previous quarter ended December 2020. Sales rose 56.93% YoY to Rs 777.88 crore in Q3 FY22.

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