You are here: Home » Markets » News
Business Standard

Force Motors riding high on strong Q1 earnings

EBITDA surged by 89% yoy to Rs 33 crore while margins expanded by 305bp yoy to 6.5% from 3.4% in the same quarter previous year

SI Reporter  |  Mumbai 

Force Motors has rallied 7% to Rs 264, in otherwise weak market, after reporting a strong 38% year-on-year (yoy) growth in net profit at Rs 14 crore for the quarter ended June 30, 2013 (Q1) on the back of robust operating performance. The company had reported a loss of Rs 23 crore in March quarter.

On operating front, EBITDA surged by 89% yoy to Rs 33 crore while margins expanded by 305bp yoy to 6.5% from 3.4% in the same quarter previous year.

Margin expansion was largely due to reduced raw material cost as percentage of sales (by 6.5%) which was partially offset by increased other expenses (by 9.5%), says analyst at Angel Broking in a note.

The company’s total income from operations however, remained unchanged at Rs 504 crore during the quarter against Rs 505 crore in a year ago quarter.

The stock opened at Rs 273 and touched high of Rs 280 on BSE. Around 1,783 shares changed hands on the counter so far.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, July 29 2013. 12:31 IST
RECOMMENDED FOR YOU
.