Published 19:27 IST, October 29th 2024

Force Motors Q2 profit rises 44% on engine sales to luxury carmakers

Force Motors consolidated net profit rose to Rs 135 crore in the July-September quarter, from Rs 93.87 crore a year earlier.

Reported by: Thomson Reuters
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Force Motors Q2 profit jumps | Image: Force Motors
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Force Motors reported a nearly 44 per cent rise in quarterly profit on Tuesday, as higher sales of engines to BMW and Mercedes helped mitigate a slump in sales of its multi-seater vans.

Force Motors makes engines for BMW and Mercedes cars in India and also manufactures commercial vehicles, including vans, school buses and ambulances.

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While sales of Force's own vehicles fell 19 per cent during the quarter, it benefited from surging demand for luxury vehicles in the world's third-largest car market.

Its consolidated net profit rose to Rs 135 crore in the July-September quarter, from Rs 93.87 crore a year earlier.

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Revenue rose 7.8 per cent to Rs 1,941 crore during the quarter. Expenses increased 4.4 per cent from a year earlier.
 

19:27 IST, October 29th 2024

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