CIE Automotive India Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 18, 2023 at 09:46 am EDT
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CIE Automotive India Limited reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was INR 23,203.4 million compared to INR 22,159.56 million a year ago. Revenue was INR 23,398.74 million compared to INR 22,259.18 million a year ago. Net income was INR 3,016.75 million compared to INR 1,888.5 million a year ago. Basic earnings per share from continuing operations was INR 5.64 compared to INR 4.87 a year ago. Diluted earnings per share from continuing operations was INR 5.64 compared to INR 4.87 a year ago. Basic earnings per share was INR 7.95 compared to INR 4.98 a year ago. Diluted earnings per share was INR 7.95 compared to INR 4.98 a year ago.
For the six months, sales was INR 47,605.43 million compared to INR 42,767.73 million a year ago. Revenue was INR 47,960.16 million compared to INR 42,974.95 million a year ago. Net income was INR 5,807.97 million compared to INR 3,502.78 million a year ago. Basic earnings per share from continuing operations was INR 11.44 compared to INR 9.2 a year ago. Diluted earnings per share from continuing operations was INR 11.44 compared to INR 9.2 a year ago. Basic earnings per share was INR 15.31 compared to INR 9.24 a year ago. Diluted earnings per share was INR 15.31 compared to INR 9.24 a year ago.
CIE Automotive India Limited, formerly Mahindra CIE Automotive Limited, is an India-based multi-technology automotive components supplier with a presence in many technologies, which include forgings, castings, stampings, magnetic products, gears and composites. The Company is focused on the automotive market, including cars, utility vehicles, commercial vehicles and tractors. Its forging business offers crankshafts, stub axles, forged and machined parts, front axle beams and steel pistons, flashless near net forgings and forged steel parts; stamping business offers sheet metal stampings, components and assemblies; castings business offers turbocharger housings, axle and transmission parts; aluminium casting business includes high pressure or gravity die casting specialized in thin wall to thick wall parts, such as complex engine components, brake system parts, aesthetically sensitive parts. It has over 29 manufacturing facilities, including four in Europe and one in Mexico.
CIE AUTOMOTIVE INDIA LIMITED 
