CIE Automotive India trades in inexperienced after Q2 internet revenue zooms 119%

The EBITDA margin stood at 15.2 % within the reporting quarter in comparison with the 13.2 % posted in the identical quarter final yr.

Shares of CIE Automotives India Restricted superior over 1 % to Rs 500 in early commerce on October 18 after the corporate reported a internet revenue of Rs 375 crore within the second quarter, marking a soar of 119 % over the past yr.

Its income from operations elevated to Rs 2,279.41 crore, up 2.24 % from Rs 2,229.42 crore a yr again.

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On the working degree, EBITDA jumped 18 % to Rs 345.3 crore within the third quarter of this fiscal over Rs 293.4 crore within the corresponding interval final fiscal.

The EBITDA margin stood at 15.2 % within the reporting quarter in comparison with the 13.2 % posted in the identical quarter final yr. EBITDA is earnings earlier than curiosity, tax, depreciation, and amortisation.

In an alternate submitting on October 17, the administration highlighted that each one companies in India are performing nicely with constructive expectations. Moreover, verticals are able to develop in 2024 in line with market expectations and new undertaking ramp-up.

CIE Automotive India is an auto ancillary provider. It’s a subsidiary of the CIE Automotive Group of Spain, which specialises in supplying elements and subassemblies to the automotive market. It has a world presence and is listed on the inventory alternate in Madrid.

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