Force Motors rises as domestic sales jumps 106% YoY in Feb'23

Force Motors advanced 2.18% to Rs 1,281 after the company registered 105.9% jump in domestic sales to 2,236 units in February 2023 from 1,086 units sold in February 2022.

As compared with January 2023, the domestic sales rose 8.97% last month.

Export sales aggregated to 221 units in February 2023, declining 1.78% from 225 units on a year on year basis while dropping 44.75% from 400 units on a month on month basis.

The company's production in February 2023 was 2,259 units, up by 46.21% from 1,545 units produced in February 2022. The production fell 6.38% last month from 2,413 units produced in 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 15.59 crore in Q3 FY23 as against net loss of Rs 42.84 crore posted in Q3 FY22. Net sales jumped 67.6% YoY to Rs 1,303.86 crore in the quarter ended 31 December 2022.

Powered by Capital Market - Live News