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Net sales during the quarter rose by 4.7% YoY to Rs 2,320.34 crore.
Total expenditure during the quarter amounted to Rs 1950.21 crore, up by 2.1% YoY on account of higher employee expenses (up 13.2% YoY) and higher other expenses (up 7% YoY).
Profit before tax in Q1 FY24 stood at Rs 372.43 crore, up by 51.3% from Rs 246.19 crore in Q1 FY23.
Mahindra CIE Automotive is a multi-technology automotive components supplier. It is a subsidiary of the CIE Automotive group of Spain; an industrial group specialised in supplying components and sub-assemblies for the automotive market, which has presence across the globe.
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