force motors q1: Force Motors Q1 net loss narrows to Rs 4 crore

New Delhi: Commercial vehicles maker Force Motors Ltd on Wednesday reported narrowing of consolidated net loss to Rs 4.36 crore for the June quarter amid disruptions due to the second wave of the coronavirus pandemic. The company had posted a consolidated net loss of Rs 64.99 crore in the same period last fiscal, Force Motors Ltd said in a regulatory filing.

Consolidated revenue from operations during the period under review stood at Rs 643.33 crore as compared to Rs 186.40 crore in the year-ago quarter, it added.

Force Motors Ltd Managing Director Prasan Firodia said, “The pandemic severely impacted our key segments like tour and travel, staff transport and school bus which have still not revived. We salvaged the situation by quickly responding to the urgent need of strengthening the healthcare infrastructure in the country.”

Despite restrictions imposed by the lockdown, he said, “We ramped up our ambulance production capacity five-fold and executed multiple triple-digit requirements from order to delivery in less than a week.”

The company also initiated actions to acquire a broader consumer base and increase its reach through various digital platforms. These efforts made in the previous quarters have yielded positive results, Firodia said.

During April-July period of 2021, the company sold a total of 6,486 units, compared to 2,311 units sold in the first four months of the previous year.

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