Force Motors falls on disappointing Q4 earnings

The company reported operating loss of Rs 13 crore against profit of Rs 27 crore in a year ago quarter.

Force Motors has dipped 6.3% to Rs 350, in otherwise firm market, after reporting a net loss of Rs 23 crore for the quarter ended March 31, 2013 (Q4) due to negative sale growth and poor operating performance. The car and utility vehicles maker had profit of Rs 17 crore in a year ago quarter.

Net sales declined by 12% to Rs 517 crore from Rs 589 crore during the recently concluded quarter. The company reported EBITDA or operating loss of Rs 13 crore against profit of Rs 27 crore for the same quarter previous year.

The stock opened at Rs 371 and touched a low of Rs 348 on BSE. Around 1,958 shares have changed hands on the counter so far.