Force Motors production skid 2% YoY in Feb

The production numbers of Force Motors slipped 1.87% to 1,829 units in February 2021 as against 1,864 units in February 2020.

Domestic sales tanked 40.9% to 1,182 units in February 2021 as against 2,000 units in February 2020. Exports soared 286.32% to 452 units in February 2021 compared with 117 units in February 2020.

On a sequential basis, the company's production jumped 27.99% in February 2021 from 1,429 units in January 2021. Domestic sales fell 1.25% in February 2021 as against 1,197 units in January 2021. Exports jumped 11.06% in February 2021 compared with 407 units in January 2021. The announcement was made post trading hours on Friday, 5 March 2021.

 

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.

Shares of Force Motors gained 1.55% to Rs 1,341 on BSE. 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.

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