Mahindra Cie Automotive Limited Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 21, 2021 at 08:42 am EDT
Share
Mahindra CIE Automotive Limited announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was INR 20,540.38 million compared to INR 7,534.16 million a year ago. Net income was INR 1,361.98 million compared to net loss of INR 1,287.39 million a year ago. Basic earnings per share from continuing operations was INR 3.59 compared to basic loss per share from continuing operations of INR 3.4 a year ago. For the half year, total revenue was INR 42,627.97 million compared to INR 24,210.08 million a year ago. Net income was INR 1,462.92 million compared to net loss of INR 660.53 million a year ago. Basic earnings per share from continuing operations was INR 3.86 compared to basic loss per share from continuing operations of INR 1.74 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 
