Mahindra CIE rises after decent Q1 performance

25 Jul 2022 , 11:50 AM

Profit before tax in Q2 CY2022 stood at Rs 247.48 crore, up by 45.9% to Rs 169.97 crore in Q2 CY2021. The companys India revenue was Rs 1,386.62 crore (up 46% YoY) while that from Europe was Rs 1,332.29 crore (up 20.2% YoY) during the period under review. Total expenses rose by 34.8% to Rs 2,402.78 crore in Q2 CY2022 from Rs 1,782.69 crore in Q2 CY2021, due to higher raw material costs (up 34.3% YoY) and higher other expenses (up 38.3% YoY). EBITDA grew by 25% to Rs 339.8 crore in Q2 CY2022 from Rs 271.4 crore in Q2 CY2021. EBITDA margin stood at 13.3% in Q2 CY2022 as against 14% in Q2 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. Powered by Capital Market – Live News