Mahindra CIE Automotive reported 3% rise in consolidated net profit to Rs 171.37 crore on 30.3% rise in revenue from operations to Rs 2,723.15 crore in Q3 calender year (CY) 2022 over Q3 CY 2021.
Profit before tax in Q3 CY2022 stood at Rs 227.21 crore, up by 26.9% to Rs 179.13 crore in Q3 CY2021.The company's India revenue was Rs 1542.89 crore (up 33.3% YoY) while that from Europe was Rs 1,192.03 crore (up 25.3% YoY) during the period under review.
Total expenses rose by 30.8% to Rs 2,510.04 crore in Q3 CY2022 from Rs 1,918.96 crore in Q3 CY2021, due to higher raw material costs (up 33.35% YoY) and higher other expenses (up 26.6% YoY).
EBITDA grew by 20% to Rs 330.7 crore in Q3 CY2022 from Rs 275.9 crore in Q3 CY2021. EBITDA margin slipped to 12.8% in Q3 CY2022 as against 13.9% in Q3 CY2021.
Mahindra CIE Automotive is a multi-technology automotive components supplier. It is a subsidiary of the CIE Automotive group of Spain; an industrial group specialised in supplying components and sub-assemblies for the automotive market, which has presence across the globe.
The scrip fell 0.72% to currently trade at Rs 309.75 on the BSE.
Powered by Capital Market - Live News