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Force Motors Posts Decline in Fiscal Q4 Consolidated Profit; Shares Plummet 5%

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Force Motors (NSE:FORCEMOT, BOM:500033) recorded a sharp decline in its consolidated attributable profit to 2.79 billion Indian rupees in the fiscal fourth quarter from 4.35 billion rupees a year ago, according to an Indian bourse filing on Wednesday.

Shares of the automobile manufacturer were down over 5% in Thursday's trade.

Earnings per share in the quarter ended March 31 slipped to 211.37 rupees compared with the year-ago figure of 329.92 rupees.

Revenue from operations in fiscal Q4 increased to 25.5 billion rupees from 23.6 billion rupees a year earlier.

The board of directors recommended a dividend of 50 rupees per share for the fiscal year ended March 31.

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