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Force Motors Q3 net dips 82.82% to Rs 2.33 cr

The company had posted a net profit of Rs 13.57 crore for the quarter ended December 31, 2010 Force Motors said in a filing to BSE.



New Delhi: Force Motors, the Pune-based maker of a range of commercial vehicles, Saturday said its net profit dipped by 82.82 percent to Rs 2.33 crore for the third quarter ended December 31, 2011.

The company had posted a net profit of Rs 13.57 crore for the quarter ended December 31, 2010 Force Motors said in a filing to BSE.

Net sales of the company for the quarter ended December 31, 2011 stood at Rs 492.26 crore as against Rs 362.35 crore for the corresponding period previous fiscal.

During the quarter the company arrived at 'in principle' agreement to sell and transfer 55,797,100 equity shares of Man Force Trucks Pvt. Ltd to Man Truck & Bus AG, Germany, for a consideration of Euro 150,000,000.

PTI

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