Force Motors shares gain around 4% on decent Q2 results

Force Motors shares gained as much as 7.5 per cent on Monday after the company on Saturday registered 65 per cent rise in bottomline figures for the second quarter ended September 30, 2015.

Force Motors
Force Motors posted net profit of Rs 42.48 crore for the quarter ended September 30, 2015 against Rs 25.69 crore in the corresponding quarter a year ago. (Photo: PTI)

Force Motors shares gained as much as 7.5 per cent on Monday after the company on Saturday registered 65 per cent rise in bottomline figures for the second quarter ended September 30, 2015.

For the quarter ended September 30, 2015, the company posted net profit of Rs 42.48 crore against Rs 25.69 crore in the corresponding quarter a year ago.

At 12.48 pm, Force Motors was trading 4.70 per cent up at Rs 3,640 on BSE. The scrip opened at Rs 3650 and had touched a high and low of Rs 3,739 and Rs 3,576.50, respectively, in trade so far.

The share price of the company settled 3.93 per cent up at Rs 3,613.

Net sales of the company rose to Rs 755.97 crore, up 27.62 per cent, against Rs 592.37 crore during the same period last year, Force Motors had said in a regulatory filing.

Force Motors is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.The company’s product range includes tractors, three wheelers, light commercial vehicles, multi utility vehicles and heavy commercial vehicles.

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