Force Motors production down 47% YoY in December

The company on Monday said its production tanked 47.12% to 1,258 units in December 2020 as against 2,379 units in December 2019.

Domestic sales slumped 68.73% to 787 units in December 2020 as against 2,517 units in December 2019. Exports jumped 29.13% to 297 units in December 2020 as against 230 units in December 2019.

Sequentially, the company's production dropped 11.78% in December 2020 from 1,426 units in November 2020. Domestic sales fell 4.95% last month from 828 units in November 2020. Exports slipped 1% in December 2020 compared with 300 units in November 2020.

Force Motors' consolidated net profit soared 233.70% to Rs 14.05 crore on 8% decrease in net sales to Rs 694.58 crore in Q2 September 2020 over Q2 September 2019.

 

Shares of Force Motors fell 0.59% to Rs 1,378.95. The company is engaged in manufacturing light commercial vehicles and utility vehicles, and engines.

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