Force Motors Records 65% Surge in Its Net Profit for Q2
Published On Oct 26, 2015
Force Motors disclosed its sales and growth figures for the second quarter, which ended on September 30, 2015. The Pune based company saw a massive 65.35% rise in its net profit in the past three months. It recorded a profit of Rs 42.48 crores, against a value of Rs 25.69 crores in the same period the last year. Net sales of this company boomed to Rs 755.97 crores, placed against Rs 592.37 crores for the same time last year.
Force Motors is a leading marque in the commercial vehicles platform of the nation. It sells a wide profile of automobiles, ranging from small commercial vehicles to multi-utility vehicles and agricultural tractors. It conducts its manufacturing in the industrial town of Pithampur, Madhya Pradesh. A new plant was also inaugurated in Chennai, where the company builds engines for international brands such as BMW and Mercedes-Benz.
Recently, the firm saw a massive jump in its stock performance. Across the first week of October, its shares recorded a growth of nearly 30%, prompting analysts to debate over its future. Professionals estimated that the company's performance lacks a tone of sustenance for the future, for a major share of its revenue comes from vehicle component dealings.