CIE Automotive India Reports Mixed Financial Results for Q2 FY25
CIE Automotive India, a leading player in the castings and forgings industry, recently announced its financial results for the quarter ending September 2024. The company’s stock has been given a ‘Sell’ call by MarketsMOJO.
According to the financial report, CIE Automotive’s performance for the quarter has been flat, with a score of 0 compared to 12 in the previous quarter. However, there are some positive aspects to the company’s financials. The Profit Before Tax (PBT) has shown a significant growth of 398.43% year on year, reaching Rs 235.16 crore. The near-term trend for PBT is also very positive.
On the other hand, the Profit After Tax (PAT) has fallen by -18.0% year on year, with a total of Rs 194.83 crore. The near-term trend for PAT is very negative. The company’s net sales for the quarter were at their lowest in the last five quarters, standing at Rs 2,134.63 crore. The net sales have also shown a negative trend, with a -6.35% year on year growth.
Despite the mixed financial performance, CIE Automotive remains a midcap company in the industry and continues to be a key player in the castings and forgings sector. The company’s financial results for the quarter ending September 2024 provide valuable insights for investors to make informed decisions.
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