Companies

Force Motors profit surges 60% in Q4

Our Bureau Pune | Updated on January 20, 2018

Pune-based auto and auto engines maker Force Motors has registered a profit after tax of Rs 73.73 crore during the last quarter of FY'16 against Rs 46.28 crore in the same period of last year. This translates into a rise of 60 per cent year-on-year.

Total income from operations stood at Rs 910.77 crore versus Rs 702.93 crore, indicating a growth of 28 per cemt YoY.

In fiscal 2016, the company posted a growth of 77 per cent in net profit that stood at Rs 179.65 crore compared with Rs 101.36 crore in fiscal 2015.

Income from operations in the two financial years stood at Rs 3,060 crore and Rs 2,364 crore, up 29.44 per cent.

In a filing to the BSE, Force Motors said that a significant addition to the top line was achieved with the full operationalisation of the engine factory at Chennai for supply to BMW India. This is besides the good growth in the engine and axles business with Mercedes Benz India Ltd.

The Traveller, Trax and Tractor categories also contributed to the growth. The company continues to focus on the utilitarian and rural vehicles. The healthy growth pace is expected to be maintained in the year ahead especially if the monsoon and rural economy are favourable.

Bouyed by the results, the company’s shares rallied and closed with a gain of 2.83 per cent at Rs 3493.50 apiece on the BSE. The benchmark index was flat.

Published on April 29, 2016

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