Driven by a strong sales performance, Force Motors reported a 59% growth in its standalone net profit for the quarter ended March 31, 2016 to Rs 73.7 crore.
The company’s revenue increased 29.6% to Rs 911 crore during the quarter against Rs 703 crore in corresponding period of last fiscal.
For the fiscal of 2015-16, the company’s gross turnover was Rs 3,485 crore as compared to Rs 2,639 crore in the past year, with a growth of 32%.
In 2015-16, the overall profit before tax amounted to Rs 249 crore as compared to the previous year’s profit before tax of Rs 125 crore, up 100%.
According to the company, the Traveller, Trax and Tractor brand of products contributed to the growth in the fiscal and it added that it would continue to focus on the utilitarian and rural vehicles segment for future growth.
Additionally, the start of full operations at the engine factory at Chennai for supplies to BMW India also contributed to the company’s revenues in the fiscal.
The healthy growth pace is expected to be maintained in the year ahead especially if the monsoon and rural economy is favourable, the company added.