Force Motors posts Q4 net loss of Rs 49.98 cr
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The company reported standalone net loss during the quarter stood at Rs 49.98 crore compared to net profit of Rs 8.30 crore in the previous year quarter. Net revenue of the company declined moderately by 6.31 per cent at Rs 612.43 crore in January-March quarter of this fiscal as against Rs 653.67 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 11.88 per cent to Rs 648.68 crore from Rs 579.80 crore in year ago period. Other Income dipped by 29.47 per cent at Rs 6.87 crore versus (Mar'20 Rs 9.74 crore).
Operating Profit slipped by 149.07 per cent to Rs -36.25 crore as against Rs 73.87 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 152.39 per cent in March quarter. Interest declined by 30.74 per cent y-o-y to Rs 5.25 crore, while Taxation increased by 555.04 per cent at Rs -27.97 crore (Mar'20 Rs -4.27 crore).
