Mahindra CIE skids after Q4 PAT slides 28% YoY to Rs 80 cr

Mahindra CIE Automotive fell 2.41% to Rs 194.65 after the company's consolidated net profit declined 28.15% to Rs 80.23 crore on 5.44% rise in net sales to Rs 2064.15 crore in Q4 December 2021 over Q4 December 2020.

On a consolidated basis, profit before tax (PBT) fell 30.06% to Rs 112.54 crore in Q4 December 2021 over Q4 December 2020.

For the full year, the company's net profit surged 269.11% to Rs 392.84 crore on 38.62% rise in net sales to Rs 8386.71 crore in the year ended December 2021 over the year ended December 2020. PBT surged 240.88% to Rs 664.98 crore during the year.

The board of directors of company at their meeting held on 22 February 2022 recommended final dividend of Rs 2.50 per equity share of Rs 10 each fully paid up for finacial year 2021.

Mahindra CIE 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