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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.

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

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First Published: Wed, April 07 2021. 13:41 IST