Force Motors announced its Q2FY23 earnings on Friday evening and the market has reacted positively today.
The stock price rose over 8% to hit an intraday high at Rs.1471.80 and is currently trading at Rs.1468 levels. Its 52-week high stands at Rs.1740, hit in Nov’21.
Its consolidated net revenue for the quarter rose 35% (YoY) to Rs.1264 crore with net profit coming in at Rs.19 crore v/s loss of Rs.1 crore (YoY) and loss of Rs.16.5 crore (QoQ).
Clearly the increased demand helped push the bottomline into the black.
The company’s sales for Oct did well coming in at 2188 units v/s 1738 units (YoY) v/s 2628 units (MoM).
The company’s 5-door SUV, Gurkha, a modified version of its current 3-door Gurkha, is currently being readied for export markets like Indonesia even before its launch in India. It is expected to be launched early 2024.