Monday, 26 October 2015

Force Motors Shares Rally on Sharp Jump in Q2 Profit

Force Motors Shares Rally on Sharp Jump in Q2 Profit

Shares of Force Motors rallied as much as 7.5 per cent to hit intraday high of Rs 3,739 per share after the automaker reported 65 per cent jump in its second quarter net profit.

The net profit of Force Motors, which manufactures a range of tractors, sports and multi-utility vehicles, rose to Rs 42.48 crore on sales of Rs 763.24 crore.

During the second quarter of previous financial year, the company posted net profit of Rs 25.69 crore on sales of Rs 598.84 crore.

For the six months of current financial year, Force Motors showcased growth of 73.55 per cent to Rs 78.24 crore compared to Rs 45.08 crore during the same period last year.

As of 11:27 a.m., Force Motors shares traded 3.81 per cent higher at Rs 3,609 outperforming the Nifty which was down 0.2 per cent.

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