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

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.

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.

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