Force Motors skids on weak sales, production in Feb

Don't want to miss the best from Business Standard?

Force Motors fell 4.73% to Rs 998.85 after the auto major released its monthly business update after trading hours yesterday, 5 March 2020.

The auto company's production tanked 28.85% to 1,864 units in February 2020 from 2,620 units in January 2020. Domestic sales dropped 14.85% to 2,000 units in February 2020 from 2,349 units in January 2020. The firm's exports also slumped 59.93% to 117 units in February 2020 from 292 units in January 2020.

On a year-on-year (Y-o-Y) basis, the company's production slipped 3.16% to 1,864 units in February 2020 over 1,925 units in February 2019. Domestic sales were down by 18.92% to 2,000 units in February 2020 over 2,467 units in February 2019. The firm's exports jumped 21.87% to 117 units in February 2020 over 96 units February 2019.

Force Motors' consolidated net profit soared 21.3% to Rs 33.16 crore on a 5.5% increase in net sales to Rs 869.01 crore in Q3 December 2019 over Q3 December 2018.

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.

Powered by Capital Market - Live News