Second Quarter Results: Force Motors Ltd
Shital Jibhe / 27 Oct 2016
Force Motors Ltd’s Q2FY17 numbers came in mixed verses Bloomberg estimates. Revenue came in 9.2% higher than the estimate of Rs 884 cr and net profit was 15.6% lower than the estimated figure of Rs 60 cr.
Standalone Results Q2FY17: (Rs. in crore)
***EBITDA margin change is bps
Force Motors Ltd’s Q2FY17 numbers came in mixed verses Bloomberg estimates. Revenue came in 9.2% higher than the estimate of Rs 884 cr and net profit was 15.6% lower than the estimated figure of Rs 60 cr.
Revenue for the quarter increased 11.7% yoy to Rs 996 cr.
The EBITDA increased by 14.9% yoy to Rs 75 cr with EBITDA margins expanding by 21 bps yoy to 8%.
Net profit increased 17.7% yoy to Rs 50 cr primarily due to 14% increase in other income and lower tax expenses.
Technical View:
Force Motors Ltd is currently trading at Rs. 4588, down by 84.4 points or 1.81% from its previous closing of Rs. 4672.4 on the BSE.
The scrip opened at Rs. 4654 and has touched a high and low of Rs. 4839 and Rs. 4555 respectively. So far 316563 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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