MARKETS

Force Motors Jumps as Domestic Sales Soar 110% in November

Picture Source: Internet

After the company’s stocks jumped in domestic sales to 1,623 units last month from 772 units sold last year, Force Motors advanced 1.86% to Rs 1,574.25.

Compared with October 2022, domestic sales decreased by 22.3% in November. Export sales aggregated to 329 units in November 2022, falling 9.12% from 362 units yearly while rising 229% from 100 units monthly.

In November 2022, the production was 2,073 units, up from 1,135 units produced in the same period last year. The production fell by 5.5% in November from 2,194 units produced in October 2022.

The company manufactures light utility vehicles, commercial vehicles and engines.
On a consolidated basis, the net profit of Rs 19.25 crore in the second quarter of FY23 compared to a net loss of Rs 1.07 crore posted in the second quarter of FY22. Net sales rose 34.8% yearly to Rs 1,264.07 crore in the second quarter of FY22.

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