Force Motors Jan production rises 10% MoM

Force Motors' total production rose 10.13% to 2,620 units in January 2020 from 2,379 units in December 2019.

The production is up by 52.15% year-on-year (YoY) compared with 1,722 units in January 2019.

Total domestic sales fell by 6.67% to 2,349 units in January 2020 from 2,517 units in December 2019. The figure was, however, up by 16.69% YoY from 2,013 units in January 2019.

The company's total exports in the month of January 2020 stood at 292 units, up 26.96% from 230 units in December 2019. Exports surged 495.92% YoY from 49 units in January 2019.

The auto maker's consolidated net profit tanked 43.7% to Rs 15.39 crore on 5.5% rise in net sales to Rs 869.01 crore in Q3 December 2019 over Q3 December 2018. Profit before tax or PBT fell 68.3% YoY to Rs 10.29 crore in the December quarter.

 

Shares of the Force Motors was down 0.41% at Rs 1322.80. The stock reversed trend after rising as much as 3.51% to hit the day's high of Rs 1375 in mid-morning trade.

Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines.

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