Force Motors shares rally 20% to hit record high after robust Q1 earnings
ADVERTISEMENT The company's first-quarter results were announced post-market hours on Wednesday. Force Motors reported a 52.3% year-on-year jump in net profit for the June quarter, up from Rs 115.7 crore a year earlier. Revenue from operations grew 21.9% to Rs 2,297 crore, compared to Rs 1,885 crore in the same quarter last year.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 33.3% year-on-year to Rs 332 crore, with margins expanding to 14.4% from 13.2% in the prior-year period, reflecting operational efficiency gains amid firm demand.
Force Motors' upbeat results come at a time when several auto sector peers are battling input cost pressures and uneven recovery in rural demand. The strong growth in profitability and margins appears to have bolstered investor sentiment, sending the stock to a new record high.In a separate announcement, Force Motors also said its board had approved the appointment of Anshul Saxena as vice president – corporate strategy, effective July 23. The move, based on a recommendation by the company's Nomination & Remuneration Committee, is seen as part of the automaker's broader push to sharpen its long-term strategic focus.
ADVERTISEMENT Saxena, who brings more than 19 years of experience, is known for his cross-functional leadership and has held advisory and board roles across several manufacturing firms.
ADVERTISEMENT Shares of Force Motors had declined 1.38% on Wednesday, closing at Rs 17,260. The stock is up a modest 5% year-to-date, with gains of 8.3% over the past six months and 3.4% in the last three months.
Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results?
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