Mahindra CIE Auto posts Q1 net loss of Rs 76.12 cr
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The company reported standalone net loss during the quarter stood at Rs 76.12 crore compared to net profit of Rs 32.42 crore in the previous year quarter. Net revenue of the company rose substantially by 47.41 per cent at Rs 852.92 crore in January-March quarter of this fiscal as against Rs 578.62 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 43.49 per cent to Rs 733.83 crore from Rs 511.43 crore in year ago period. Other Income dipped by 65.42 per cent at Rs 2.69 crore versus (Mar'20 Rs 7.78 crore).
Operating Profit surged by 77.24 per cent to Rs 119.09 crore as against Rs 67.19 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 20.24 per cent in March quarter. Interest grew by 31.84 per cent y-o-y to Rs 3.23 crore, while Taxation increased by 1302.03 per cent at Rs 165.58 crore (Mar'20 Rs 11.81 crore).
