Business Standard

Mahindra CIE falls 3% on muted December quarter results

The company said the general cost inflation affecting the business - especially raw materials, energy and logistic costs.

Mahindra CIE
Premium

SI Reporter Mumbai
Shares of Mahindra CIE Automotive were down 3 per cent at Rs 193.40 on the BSE in Wednesday’s intra-day trade after the company reported a muted performance for the quarter ended December 2021 (Q4CY21).

On a consolidated basis, the company’s net sales stood at Rs 2,064 crore, down 1.3 per cent quarter-on-quarter (QoQ), up 4 per cent year-on-year (YoY). Earnings before interest tax and depreciation and amortization (EBITDA) margins declined 300 bps QoQ and YoY, due to higher raw material costs. Profit after tax (PAT) more-than-halved QoQ at Rs 80 crore from Rs 166 crore in September quarter (Q3CY21).

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 23 2022 | 11:13 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com