Force Motors share price surged as much as 20 per cent to hit its upper circuit in morning trade on BSE on Wednesday, October 30, boosted by strong September quarter results. The stock opened at ₹7,250.05 against its previous close of ₹6,378.35 and surged 20 per cent to the level of ₹7,654. Around 10:10 am, the stock was locked at its upper circuit.
Meanwhile, the equity benchmark Sensex declined about half a per cent after two days of gains.
After market hours on October 29, Force Motors said its September quarter (Q2) consolidated net profit stood at ₹135.05 crore, up 43.84 per cent year-on-year (YoY) against a profit of ₹93.89 crore in the corresponding quarter last year.
Revenue from operations for the quarter under review rose 7.8 per cent YoY to ₹1,941.33 crore from ₹1,801.68 crore in the same quarter last year.
On a standalone basis, the company's profit for Q2FY25 stood at ₹140.68 crore up 43.2 per cent against ₹98.26 crore in the same quarter last year. Revenue from operations rose 7.8 per cent to ₹1,941.20 crore from ₹1,801.57 crore in Q2FY24.
Shares of Force Motors have been on a roll over the last year. The stock has surged 126 per cent over the last year. Year-to-date, the stock has surged 111 per cent.
The stock hit a 52-week low of ₹3,333 on January 24 this year and jumped to its 52-week high of ₹10,272.65 on April 29.
On a monthly basis, the stock has recovered nearly 1%, following consecutive declines of 10 per cent in both August and September.
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