Force Motors net profit jumps over three-fold to Rs 14.05 cr in Q2

Force Motors Ltd on Friday reported over three-fold jump in consolidated net profit at Rs 14.05 crore in the second quarter ended September. "The management of the company is closely monitoring the situation and has implemented appropriate countermeasures to minimise the impact," Force Motors said.

Force Motors Ltd on Friday reported over three-fold jump in consolidated net profit at Rs 14.05 crore in the second quarter ended September. The company had posted a consolidated net profit of Rs 4.21 crore in the same period last fiscal, Force Motors said in a regulatory filing.

Consolidated revenue from operations stood at Rs 694.58 crore as against Rs 755.15 crore in the corresponding quarter last fiscal, it added. The company said its total expenses in the second quarter stood at Rs 681.82 crore as compared to Rs 770.58 crore in the year-ago period.

The impact of COVID-19 pandemic continued to be seen in the quarter and is expected to affect the operations of the company in the forthcoming quarters, it said. "The management of the company is closely monitoring the situation and has implemented appropriate countermeasures to minimise the impact," Force Motors said.