Mahindra CIE Automotive tanked 6.67% to Rs 131.60 after consolidated net profit slumped 91.12% to Rs 12.61 crore in Q4 December 2019 (Q4 FY19) as against net profit of Rs 142.03 crore in Q4 December 2018 (Q4 FY18).
Total tax expenses surged 172.63% to Rs 108.89 crore during the period under review. Profit before tax fell 33.22% to Rs 121.51 crore year-on-year (Y-o-Y).
Revenue from operations slipped 12.76% Y-o-Y to Rs 1,722.93 crore in Q4 FY19. The Q4 figures were announced after market hours yesterday, 26 February 2020.
Consolidated net profit tanked 35.50% to Rs 353.79 crore on a 1.5% decline in revenue from operations to Rs 7,907.82 crore in the year ended December 2019 over the year ended December 2018.
Consolidated EBITDA slipped 23.22% to Rs 210.90 crore in Q4 FY19 from Rs 274.70 crore in Q4 FY18. EBITDA margin stood at 12.7% in Q4 FY19 as against 14.7% in Q4 FY18. Net financial debt grew 58.34% to Rs 1,148.80 crore in Q4 FY19 over Rs 725.50 crore in Q4 FY18.
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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