Force Motors shares close over 3% higher on smart Q2 profit

Shares of Force Motors on Monday surged 7.5 per cent after the company posted a 65.35 per cent rise in net profit for the second quarter ended September 30.

The stock jumped 7.55 per cent to Rs 3,739 at BSE (Bombay Stock Exchange).

Force Motors on Saturday posted a 65.35 per cent rise in its net profit at Rs 42.48 crore for the second quarter.

The company had posted a net profit of Rs 25.69 crore during the same period of the previous fiscal.

"Net sales of the company rose to Rs 755.97 crore as against Rs 592.37 crore during the same period last fiscal," Force Motors had said in a regulatory filing.

The Pune-based firm sells a range of vehicles, including small commercial vehicles, multi-utility vehicles (MUVs), light commercial vehicles, sports utility vehicles (SUVs) and agricultural tractors.

Shares of the company closed at Rs 3613 apiece, higher by 3.93 per cent or 136.50 points on BSE.