Force Motors SUV by year-end

Pune based auto major Force Motors is planning to launch an all new SUV, in the premium segment, by the end of this financial year. The company posted a revenue increase of over 58 per cent during the first half of the current fiscal year. It reported gross revenue of Rs 742 Crores as against Rs 468 Crores during the same period last year. Profit from operations before other income, financial expenses and exceptional items stood at Rs 43 Crores as against Rs 7 Crores during the same period last year. Prasan Firodia, MD said, “Sales of all vehicle categories, such as small commercial vehicles, utility vehicles and light commercial vehicles showed healthy growth. The sales of Traveller and the new SCV ‘Trump 40’ have been especially strong”. “Traditionally sales and profitability during the first half are lower. The increase in capacities at both Pune and Pithampur will deliver enhanced output over the next half year to meet the market demand” he said. The company is targeting a top line of Rs 1800 Crores during the current financial year. Sales of its 50:50 joint venture, Man Force Trucks Pvt Ltd also grew by 200 pc. It reported a turnover of Rs 368 Crores in the first half of the current year as compared to Rs 130 Crores in the same period last year.