Force Motors reported a net profit of Rs 115.73 crore in Q1FY25 as against Rs 68.59 crore in Q1FY24. The company's revenue from operations stood at Rs 1884.90 crore in Q1FY25 as against Rs 1487.55 crore in Q1FY24.
30 Jul 2024 | 3315 Views | By Shahkar Abidi
Pune-based Force Motors Ltd (FML), known for its Traveller and Trax Utility vehicles, reported a net profit of Rs 115.73 crore in Q1FY25 as against Rs 68.59 crore in Q1FY24. The company's revenue from operations stood at Rs 1884.90 crore in Q1FY25 as against Rs 1487.55 crore in Q1FY24.
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Pune-based Force Motors Ltd (FML), known for its Traveller and Trax Utility vehicles, reported a net profit of Rs 115.73 crore in Q1FY25 as against Rs 68.59 crore in Q1FY24. The company's revenue from operations stood at Rs 1884.90 crore in Q1FY25 as against Rs 1487.55 crore in Q1FY24.
The development comes even as company's top management had earlier revealed about their target of extending the company's strong FY22 and FY23 performance for at least two more years (FY24 and FY25), buoyed by over 40% growth in its overall business.
"We've seen significant growth of around 40% for the past two years," Rakesh Maru, President of Sales and Marketing at Force Motors, earlier told Autocar Professional, adding that the company's vision is to continue with similar growth for another two years, if not more, even as the base increases.
For an OEM, business growth is usually a reflection of volume jumps. In Force Motor's case, Maru, expects it to "get close" to the previous peak of 2015–2016, when it touched 25,000–26,000 units.
Force Motors, like most of its peers, experienced a strong rebound after facing challenges due to the pandemic and related lockdowns during the affected period, commercial vehicle industry, particularly school buses, employee transportation, and tourism, were seriously impacted. Force Motors' business has been steadily rising since the last quarter of FY20-23.
Force Motors, an Indian automobile manufacturer based in Pune, has been a significant player in the country's automotive industry since 1958. Founded by N.K. Firodia, the company started with light commercial vehicles and has since diversified its portfolio. Their main brands include the rugged Gurkha SUV, the widely-used Traveller minibus series, and the versatile Trax multi-utility vehicles.
Force Motors has also made a mark in the agricultural sector with its tractor production. The company's partnerships with global automotive giants like Mercedes-Benz and BMW for engine and axle manufacturing have boosted its reputation. Known for producing robust and reliable vehicles, Force Motors has a strong foothold in rural and semi-urban markets, continually adapting to meet changing consumer needs.