Mahindra CIE Q3 CY23 PAT rises 3% YoY to Rs 171 cr

19 Oct 2022 , 11:05 AM

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 companys 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