A large shareholder in the business is Mahindra Vehicle Manufacturing Ltd. The manufacturing and selling automotive parts to manufacturers of original equipment and other clients in India and abroad is business of the firm.
Financial Results:
Mahindra CIE Automotive’s revenue from operations in Q3FY23 rose 35% to ₹ 22,468.35 million. Profit After Tax from continuing operations came at ₹ 1,948.33 million showcasing a 153% rise YoY over the corresponding period. In this quarter’s results, the reports suggested that the firm has continued to deliver consistent performance in all key operational and financial indicators in Q3Y23.
However, due to a loss on fair value on disposal assets and liabilities, the Loss for the period (including the discontinued operations) came at ₹ 6,578.11 millions.