CIE Automotive India shares slipped over 2% after the company reported a significant decline in its Q3 financial performance. As of 11:30 AM, the shares were trading 1.67% lower at Rs 423.85.
The company reported a 5.8% drop in revenue, standing at ₹2,110 crore compared to ₹2,240 crore in the previous year. EBITDA also saw a decline of 8.6% to ₹299 crore, impacting the overall margin, which fell to 14.2% from 14.6%.
Despite the drop in revenue and profitability, net profit saw a 9.5% increase, reaching ₹185 crore compared to ₹169 crore in the previous year. This rise was largely driven by a 26% increase in other income, which stood at ₹33.5 crore.
CIE Automotive India shares opened at ₹421.10, reaching a high of ₹437.55 and a low of ₹413.10. The stock is trading close to its 52-week low of ₹405.30, while the 52-week high stands at ₹622.40.
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