Mahindra CIE Automotive slipped 3.51% to Rs 110.10 after the company reported consolidated net loss of Rs 128.74 crore in Q2 June 2020 compared with net profit of Rs 126.22 crore in Q2 June 2019.
Net sales slumped 65.7% to Rs 735.47 crore in Q2 June 2020 over Q2 June 2019. Pre-tax loss stood at Rs 147.06 crore in Q2 June 2020 compared with pre-tax profit of Rs 173.44 crore in Q2 June 2019. Current tax expense dropped 95.9% to Rs 1.85 crore in Q2 June 2020 as against Rs 45.56 crore in Q2 June 2019. The result was announced post trading hours yesterday, 21 July 2020.
Consolidated net financial debt stood at Rs 1,454.10 crore as on 30 June 2020 as compared to Rs 1,148.80 crore as on 31 December 2019.
Mahindra CIE Automotive is an auto components supplier with presence in many technologies, which include forgings, castings, stampings, magnetic products and composites. It is focused on the automotive market, including cars, utility vehicles, commercial vehicles and tractors.
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