You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Force Motors gains after strong sales, production in March

Capital Market 

Force Motors added 2.97% to Rs 1197.85 after the company announced good production and sales figures for the month of March 2021.

The company's automobile production stood at 1971 units in March 2021, up by 64.5% as compared to 1198 units produced in March 2020. It has risen by 7.8% from 1,829 units produced in February 2021.

While the company's domestic sales increased by 111.5% to 1633 units, exports surged 304.8% to 425 units in March 2021 over March 2020.

Sequentially, the company's domestic sales improved 38.2% while exports declined 6% last month over February 2021.

Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. It is an automobile company, with a focus on design, development and manufacture of a range of automotive components, aggregates and vehicles.

The commercial vehicle maker reported a consolidated net loss of Rs 18.98 crore in Q3 FY21 as against net profit of Rs 13.8 crore in Q3 FY20. Net sales tumbled 43.5% to Rs 491.18 crore in Q3 FY21 from Rs 869.11 crore in Q3 FY20.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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: Wed, April 07 2021. 13:41 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU