CIE Automotive India Ltd, formerly known as Mahindra CIE Automotive Ltd, on Tuesday, October 17, reported a 119.3% year-on-year (YoY) jump in net profit at ₹375.4 crore for the third quarter that ended September 30, 2023.

In the corresponding quarter last year, CIE Automotive posted a net profit of ₹171.4 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at ₹2,279.4 crore during the period under review, up 2.2% against ₹2,229.4 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA jumped 17.7% to ₹345.3 crore in the third quarter of this fiscal over ₹293.4 crore in the corresponding period in the previous fiscal.

The EBITDA margin stood at 15.2% in the reporting quarter as compared to 13.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of CIE Automotive India Ltd ended at ₹493.40, up by ₹16.85, or 3.54%, on the BSE.

(Edited by : Shoma Bhattacharjee)