Force Motors reported net loss of Rs. 23 crore for the Q4 ended on March 31, 2013. The company has fallen by 6.3 percent to Rs. 350. The low earning is due to the negative sales growth and underperforming operating performance. The scenario was quite different a year ago, when the Force Motors formerly Bajaj Tempo earned profit of Rs. 17 crore.
The motor brand reported net sales drop by 12 percent to Rs. 517 crore from Rs. 589 during the quarter ended recently. The auto maker reported operating loss of Rs. 13 crore, whereas in the same period last year it earned profit of up to Rs. 27 crore. With the announcement of its quarterly results, the share of the company show declining interest from investors.
Force Motors was founded in the year 1958, the auto maker specialises in personal vehicles, commercial vehicles and agricultural vehicles. The company had expansion plans to extend the dealership networks by adding 50 more dealerships. With slipping market share and profit of auto makers, Force Motors too is struggling to cope with tough market conditions.