Force Motors net dips 96%

Force Motors, an automobile player, has posted a dip of over 96 per cent in its net profit for the quarter ended December, 2009 at Rs 7.02 crore compared with Rs 201 crore in the previous corresponding quarter. However, the company’s quarterly net sales grew to Rs 216.56 crore during the quarter from Rs 135.54 crore last year, up 59.78 per cent.

The company’s expenditure during the quarter rose to Rs 223.50 crore from Rs 162.82 crore, up 37.27 per cent.

The earning per share (EPS) for the December quarter dipped to Rs 5.33 from Rs 152.55.

On the Bombay Stock Exchange, the company’s shares were trading at Rs 323.20, up 2.12 per cent at IST 1205 on Monday.