Shares of Mahindra CIE Automotive Ltd. hit a 52-week high in trade on Friday after the company reported its fourth-quarter earnings for the calendar year 2022.
The company's shares rose despite reporting a net loss for the October-December quarter. It posted a consolidated net loss of Rs 657.81 crore as compared to Rs 80.23 crore of profit in the same period of the previous fiscal.
The loss of Rs 923.37 crore on the fair valuation of assets and liabilities of stopped operations during the quarter under review caused the drop in profits.
The company's fourth-quarter revenue was up 34.6% at Rs 2,246.84 crore, compared with Rs 1,669.2 crore in the same period a year ago. It missed the consensus analyst estimates pooled by Bloomberg, which stood at Rs 2,818.85 crore.
Mahindra CIE Automotive Q4 CY2022 (Consolidated, YoY)
Revenue was up 34.6% at Rs 2246.84 crore (Bloomberg estimate: Rs 2,818.85 crore).
Ebitda was up 62.19% at Rs 292.40 crore (Bloomberg estimate: Rs 357.15 crore).
Ebitda Margin at 13.01% vs. 10.8% (Bloomberg estimate: 12.7%)
Net loss of Rs 657.81 crore vs. net profit of Rs 80.23 crore (Bloomberg estimate: Rs 196.45 crore profit)
The company recorded a loss of Rs 923.37 crore on the fair valuation of assets and liabilities of discontinued operations during the quarter under review.
Shares of Mahindra CIE Automotive Ltd. rose 7.41%, as of 11:20 a.m., to Rs 416.25 apiece in trade on Friday. The stock rose as much as 9.35% intraday, rising to its 52-week high of Rs 423.8.
The total traded volume stood at 3.2 times its 30-day average. The relative strength index was at 65.2.
Out of the six analysts tracking the company, five maintain a 'buy' rating and one suggests a 'sell.'
The return potential, as calculated by the consensus of analyst estimates, stands at an upside of 9.3% over the next 12 months.
RECOMMENDED FOR YOU
Stock Market Today: Nifty Ends Below 25,100, Sensex Sheds Over 240 Points As IT Drags; Tech Mahindra Top Loser
Jul 14, 2025
.web.webp?rect=0%2C0%2C3500%2C1969&w=75)
Ola Electric Q1 Results: Losses Widen, Revenue Halves
Jul 14, 2025
Market Experts' LIVE Stock Recommendations: Should You Buy, Sell Or Hold These Stocks Today?
Jul 14, 2025
Stock Market Today: Nifty Slips Below 25,200 Support, Sensex Drops Over 700 Points; TCS, Auto Stocks Drag
Jul 11, 2025
POPULAR