On a consolidated basis, the net profit of Mahindra CIE Automotive reported 3 per cent to Rs 171.37 crore on a 30.3 per cent rise in revenue from operations to Rs 2,723.15 crore in the third quarter of calendar year (CY) 2022 over the third quarter of CY 2021.

In the third quarter of CY22, PBT stood at Rs 227.21 crore, up by 26.9 per cent to Rs 179.13 crore in the third quarter of CY21. The company’s India revenue was Rs 1542.89 crore, up 33.3 per cent, while that from Europe was Rs 1,192.03 crore, up 25.3 per cent YoY. 

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Total expenses rose by 30.8 per cent to Rs 2,510.04 crore in the third quarter of CY22 from Rs 1,918.96 crore in the third quarter of CY21 due to higher raw material costs, up 33.35 per cent and higher other expenses, up 26.6 per cent YoY.

EBITDA grew by 20 per cent to Rs 330.7 crore in the third quarter of CY22 from Rs 275.9 crore in the third quarter of CY21. EBITDA margin slipped to 12.8 per cent in the third quarter of CY22 compared to 13.9 per cent in the third quarter of CY21.

This company is a multi-technology automotive components supplier with a subsidiary of the CIE Automotive group of Spain, an industrial group specialising in supplying components and sub-assemblies for the automotive market, which has a presence across the globe. On the Bombay Stock Exchange (BSE), the stocks fell 0.72 per cent to recent trade at Rs 309.75.