Force Motors reports net loss of Rs 64.99 cr in Q1, revenue at Rs 185.4 cr

Force Motors on Monday reported a consolidated net loss of Rs 64.99 crore in the first quarter ended June 30, adversely impacted by the coronavirus pandemic.
 

The company had posted a consolidated net profit of Rs 26.17 crore in the same period last fiscal, Force Motors said in a regulatory filing.

Revenue from operations during the period under review stood at Rs 185.40 crore. The same was at Rs 802.48 crore in the year-ago quarter, it added.

The outbreak of Covid-19 pandemic has already had a very adverse effect on the operations of the company. It has severely impacted the revenue and profitability during the last quarter of the previous financial year as well as the current quarter ended June 30, it added.

"Therefore the results for the quarter ended June 30 are not comparable with the corresponding period," Force Motors said.