Mahindra CIE surges 13% on stable operational performance in March quarter

In Q1, standalone EBITDA margin improved 310 basis points (bps) to 15.5 per cent from 12 per cent in Q4.

Shares of Mahindra CIE Automotive surged 13 per cent to Rs 225 on the BSE in Tuesday’s intra-day trade, after the company reported stable standalone operational performance in the March quarter (Q1CY22).

The auto components and equipments maker saw improvement in EBITDA margin by 310 basis points (bps) to 15.5 per cent in Q1CY21, as against 12 per cent in Q4CY21. The company reported standalone profit after tax of Rs 169 crore in Q1CY22, against a loss of Rs 76 crore in Q1CY21. Sequentially, the company registered a profit of Rs 43 crore in Q4CY21.

Meanwhile, the stock