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Net sales during the quarter jumped 2.24% YoY to Rs 2,279.41 crore.
Profit before tax stood at Rs 255.87 crore in Q2 FY24, up by 1.21% from Rs 223.18 crore in Q2 FY23.
EBITDA jumped 19% to Rs 365.4 crore in Q2 FY24 as against Rs 306.8 crore posted in Q2 FY23. EBITDA margin stood at 16.9% in Q2 FY24 as against Rs 14.5% in Q2 FY23.
During the quarter, revenue from India fell marginally to Rs 1,536.74 crore and revenue from Europe declined 37.58% to Rs 744.01 crore from Rs 1,192.03 crore in Q2 FY23.
Mahindra CIE Automotive 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.
The shares of Cie Automotive shed 0.92% to Rs 488.85 on the BSE
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