Force Motors Q3 net profit up 175%

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Force Motors has posted a net profit of Rs 27.44 crore for the quarter ended December 31, 2015, versus Rs 9.99 crore for the same quarter of the previous fiscal, representing a rise of 175 per cent year-on-year.
Net income from operations for the Pune-based maker of engines as well as a range four-wheelers stood at Rs 740 crore against Rs 512 crore respectively in the two quarters being compared, registering a rise of nearly 45 per cent year-on-year.
“We have got our product mix of commercial vehicles and tractors right. All verticals have seen a growth and our exports are up 12.5 per cent,” Prasan Firodia, Managing Director, Force Motors said, adding that lower commodity prices also contributed to better realisation.
On the BSE, the Force Motors scrip gained over Rs 250 a piece in morning trade and was trading with gains of 7.74 per cent at Rs 2,778 apiece.

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