Force Motors Ltd reported a strong 35% year-on-year (YoY) growth in consolidated net profit for Q3 FY24, reaching ₹115.3 crore, compared to ₹85.4 crore in the same quarter last year. The company also recorded an 11.7% increase in revenue, amounting to ₹1,889.5 crore, up from ₹1,691.7 crore in Q3 FY23.
However, the company’s operating performance showed signs of strain, as EBITDA rose only 3.2% YoY to ₹231.7 crore, compared to ₹224.5 crore a year ago. The EBITDA margin contracted to 12.3% from 13.3% in the year-ago period due to rising input costs and operational challenges.
Key Financial Highlights:
- Net Profit: ₹115.3 crore, up 35% YoY from ₹85.4 crore.
- Revenue: ₹1,889.5 crore, up 11.7% YoY from ₹1,691.7 crore.
- EBITDA: ₹231.7 crore, up 3.2% YoY from ₹224.5 crore.
- EBITDA Margin: 12.3%, down from 13.3% YoY.
- Total Income: ₹1,904.4 crore, marking an 11.4% rise from ₹1,695.7 crore.
Force Motors, recognized for its expertise in commercial vehicles and utility transport, is working to broaden its product range and enhance its footprint across domestic and international markets, aiming for long-term growth.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your research or consult a financial advisor before making investment decisions.
