Force Motors down nearly 4 pc as Q3 profit declines

Shares of commercial vehicles maker Force Motors today fell by nearly 4 per cent after the company reported a 14.86 per cent decline in standalone net profit for the third quarter ended December.
The stock lost 3.46 per cent to end at Rs 4,147.30 on BSE. During the day, it declined by 6.19 per cent to Rs 4,030.
Force Motors on Saturday reported a 14.86 per cent decline in standalone net profit at Rs 23.25 crore for the third quarter ended December 31, 2016.
The company had posted standalone net profit of Rs 27.31 crore in the same quarter of the previous fiscal.

Income from operations during the quarter under review stood at Rs 708.77 crore as against Rs 833.51 crore in the year-ago period, down 14.96 per cent, it said.