Shares of Force Motors Limited traded 2 percent lower to Rs 8,222 in morning trade on June 6 after the automobile company announced a marginal drop in sales in May, a sharp contrast to the previous month where sales witnessed a robust up move.
Force Motors’ small and light commercial vehicle and utility vehicles sales dropped 1 percent to 2,592 units in May, the company stated in a regulatory filing. The company sold 2,609 units in the same month previous year.
Follow our live blog for all the market updates
The export business of the company tanked about 64 percent to 180 units from 491 reported in the corresponding month of the previous fiscal. However, the domestic side of the business, rose 14 percent as the company sold 2,412 units, company data showed.
In the fiscal fourth quarter, the company's net profit slipped over 4 percent on-year to Rs 140.3 crore but revenue climbed 35 percent on-year to Rs 2,011.2 crore. The operating level EBITDA surged to Rs 278.7 crore from Rs 120.8 crore in the corresponding period of the previous fiscal. The EBITDA margin came in at 14 percent, up 600 basis points on-year
Force Motors operates as an automobile company with expertise across the entire spectrum of vehicle manufacturing, from design and development to production. Their product lineup includes a variety of vehicles such as Light Commercial Vehicles (LCV), Multi-Utility Vehicles (MUV), Small Commercial Vehicles (SCV), Sports Utility Vehicles (SUV), and Agricultural Tractors.
The Force Motor shares gained a massive 30 percent in the last year.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
