Mahindra CIE Automotive gained 6.62% to Rs 264.95 after the company's consolidated net profit rose 38.7% to Rs 188.85 crore on 32.5% rise in net sales to Rs 2,707.20 crore in Q2 calender year (CY) 2022 over Q2 CY 2021.
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 company's 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.
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