CIE Automotive India (formerly known as Mahindra CIE Automative) on October 17 reported a consolidated net profit of Rs 375.41 crore for the September quarter of the financial year 2023-24, a growth of 119.07 percent from the year-ago period.
The profit includes that from its forging business under Stokes Group Limited which has been sold. That is clubbed under profit from discontinued operations that amounts to Rs 188 crore.
The auto component supplier reported a profit of Rs 171.36 crore in the same quarter of the previous year.
Its revenue from operations rose to Rs 2,279.41 crore, up 2.24 percent from Rs 2,229.42 crore reported during the corresponding quarter of the last fiscal.
CIE Automotive India is an automotive components supplier. It is a subsidiary of the CIE Automotive group of Spain - an industrial group specialised in supplying components and subassemblies for the automotive market, which has a presence across the globe and is listed on the stock exchange in Madrid.
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