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Commercial vehicle maker Force Motors Ltd today reported a 40.70% rise in net profit at Rs 26.93 crore for the quarter ended September 30, 2013 on the account of tax gains.
The company had reported net profit of Rs 19.14 crore in the same period a year ago.
Force Motors' reported deferred tax gain of Rs 23.41 crore during the quarter. Its current tax outgo also declined sharply by 85.71% to Rs 71 lakh in the September 2013 quarter compared with Rs 4.97 crore in the corresponding quarter a year ago, the company said in a BSE filing.
Net sales during the quarter under review declined by 4.80% to Rs 465.7 crore compared with Rs 489.23 crroe in the corresponding quarter last year.
Total expenses during the quarter declined by 3.60% to Rs 472.81 crore.
For the half yearly period ended September 30, the company reported 39.80% increase in net profit at Rs 41.2 crore compared with Rs 29.47 in the same period in the previous year.
Force Motors' range includes small commercial vehicles, multi-utility and cross-country vehicles, light commercial vehicles and agricultural tractors.
