Mahindra CIE jumps 18%

about 2 years ago
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Mahindra CIE was among the top five gainers on the BSE in the morning trades. The stock surged over 18% to an intraday high at Rs.234.80 and continues to trade around the Rs.232 levels currently. Its 52-week high is at Rs.311.65.

The company which follows the Jan-Dec year ending, for Q1 ended 31st March’22, posted a huge almost 16-times jump (YoY) in consolidated net profit at Rs.161 crore. This is mainly on account of Rs.130 crore of deferred tax it charged in Q1CY21. Tax expense in current Q1 was at Rs.51 crore and that in previous Q1 T at Rs.194 crore.

Revenue from operations rose 18% at Rs.2588 crore.

EBITDA was up 1% at Rs.308 crore while margins came down 14.7% to 12.6%.

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