Force Motors rises as domestic sales jumps 29% YoY in Dec'22

Force Motors advanced 1.78% to Rs 1,533.55 after the company registered 29.06% jump in domestic sales to 1,861 units in December 2022 from 1,442 units sold in December 2021.

As compared with November 2022, the domestic sales rose 14.66% last month.

Export sales aggregated to 430 units in December 2022, surging 100% from 215 units on a year on year basis while rising 30.7% from 329 units on a month on month basis.

The company's production in December 2022 was 2,326 units, up by 44.56% from 1,609 units produced in December 2021. The production grew 12.2% last month from 2,073 units produced in November 2022.

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 a consolidated net profit of Rs 19.25 crore in Q2 FY23 as against net loss of Rs 1.07 crore posted in Q2 FY22. Net sales rose 34.8% YoY to Rs 1,264.07 crore in the quarter ended 30 September 2022.

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