Force Motors Dec?23 sales grows 17% YoY to 2,174 units

As compared with November 2023, the domestic sales jumped 25.52% last month.

Export sales stood at 326 units in December 2023, down 24.18% from 430 units sold in December 2022 and declined 3.83% from 339 units on a month on month basis.

Total production rose 12.3% to 2,612 units in December 2023 as compared with 2,326 units produced in December 2022. The production rose 17.87% last month from 2,216 units produced in November 2023.

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.

The company reported consolidated net profit of Rs 93.87 crore in Q2 FY24, steeply higher than Rs 19.25 crore posted in Q2 FY23. Net sales jumped 42.5% YoY to Rs 1,801.68 crore in Q2 FY24.

The scrip slipped 1.66% to end at Rs 3,603.55 on Friday, 5 January 2024.

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