Mahindra CIE Auto posts Q1 net profit of Rs 168.69 cr
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The company reported standalone net profit during the quarter stood at Rs 168.69 crore compared to net loss of Rs 76.12 crore in the previous year quarter. Net revenue of the company rose moderately by 16.36 per cent at Rs 992.49 crore in January-March quarter of this fiscal as against Rs 852.92 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 16.41 per cent to Rs 854.22 crore from Rs 733.83 crore in year ago period. Other Income grew by 3385.50 per cent at Rs 93.76 crore versus (Mar'21 Rs 2.69 crore). Operating Profit surged by 16.11 per cent to Rs 138.27 crore as against Rs 119.09 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.21 per cent in March quarter. Interest grew by 8.67 per cent y-o-y to Rs 3.51 crore, while Taxation decreased by 82.56 per cent at Rs 28.88 crore (Mar'21 Rs 165.58 crore).
