Force Motors revs up after strong December 2019 sales

Force Motors jumped 6.4% to Rs 1165 after the company announced a robust sales numbers for the month of December 2019.

The auto maker's total production rose 33.20% to 2,379 units in December 2019 from 1,786 units in November 2019. The production is, however, still down by 7.72% year-on-year (YoY) compared with 2,578 units in December 2018.

Total domestic sales rose by 30.01% to 2,517 units in December 2019 from 1,936 units in November 2019. The figure jumped 52.55% YoY from 1,650 units in December 2018.

The company's total exports in the month of December 2019 stood at 230 units, up 30.68% from 176 units in November 2019. The exports surged 389.36% YoY from 47 units in December 2018.

 

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

Force Motors' consolidated net profit tanked 89.5% to Rs 4.19 crore on 14.1% decline in net sales to Rs 755.15 crore in Q2 September 2019 over Q2 September 2018.

The stock has surged 14.36% in last one month as compared to a 3.22% rise in Nifty Auto index.

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