CIE Automotive India has recently disclosed its financial results for the second quarter of the fiscal year 2024, revealing a slight downturn in both revenue and profit. The company’s total revenue experienced a decrease of 1.19% compared to the same period in the previous year, while the profit fell by 28.13% year-on-year.
In comparison to the previous quarter, CIE Automotive India saw a decline of 5.53% in revenue and a 5.92% drop in profit. Additionally, the Selling, General & Administrative expenses rose by 2.22% quarter-on-quarter and 3.93% year-on-year. Despite this, the operating income managed to increase by 0.79% quarter-on-quarter but decreased by 3.76% year-on-year.
On a positive note, the company’s earnings per share (EPS) for Q2 stood at ₹5.71, marking a 1.42% increase year-on-year. Furthermore, CIE Automotive India has delivered a 0.81% return in the last week, 22.88% return in the last 6 months, and a 28.88% year-to-date return.
As of July 20, 2024, CIE Automotive India has a market capitalization of ₹23014.02 Cr and a 52-week high/low of ₹622.4 & ₹406.8 respectively. Analysts covering the company have given it a consensus recommendation of Strong Buy, with 2 analysts rating it as Buy and 3 analysts rating it as Strong Buy.
Upon closer examination of the financials, it is evident that the total revenue for the quarter was ₹2292.69, down by 5.53% from the previous quarter. The Selling/ General/ Admin Expenses Total also increased by 2.22% compared to the previous quarter and 3.93% year-on-year. Despite a 6% decrease in Diluted Normalized EPS, the company managed to keep it at ₹5.71 for Q2.
In summary, the latest Q2 results for CIE Automotive India demonstrate varied performance, with some areas experiencing a decline while others show signs of resilience. Investors and analysts will be closely monitoring the company’s strategies and performance in the coming months to assess its trajectory in the market.
For further details and in-depth analysis, more information can be found on the company’s official website.