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Business News/ Companies / Force Motors surges 18% on BMW order
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Force Motors surges 18% on BMW order

The company said it will start procuring components from at least seven India-based auto parts makers

Force Motors reported a net profit of `9.99 crore for the quarter ending December, whereas the company reported a net loss of `8.37 crore for the same quarter last year.Premium
Force Motors reported a net profit of `9.99 crore for the quarter ending December, whereas the company reported a net loss of `8.37 crore for the same quarter last year.

Mumbai: Pune-based Force Motors Ltd rose 18.09% to 1,342.25 as the company will now produce engines and gearboxes for Bayerische Motoren Werke AG (BMW).

The German luxury car maker has said it will start procuring components from at least seven India-based auto parts makers in response to Prime Minister Narendra Modi’s call to multinational companies to make in India.

BMW India Pvt. Ltd, which entered India in 2007, sells its products as partly assembled (complete knocked-down) units or as fully imported (completely built) units.

Force Motors reported a net profit of 9.99 crore for the quarter ending December. It reported a net loss of 8.37 crore for the same quarter last year. Net sales grew 7.8% from 475.05 crore to 511.92 crore. Debts on the books of Force Motors stood at 12.86 crore for the half year ending September 2014.

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Published: 04 Feb 2015, 01:20 PM IST
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