CIE Automotive India Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 18, 2023 at 09:46 am EDT
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CIE Automotive India Limited reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was INR 23,203.4 million compared to INR 22,159.56 million a year ago. Revenue was INR 23,398.74 million compared to INR 22,259.18 million a year ago. Net income was INR 3,016.75 million compared to INR 1,888.5 million a year ago. Basic earnings per share from continuing operations was INR 5.64 compared to INR 4.87 a year ago. Diluted earnings per share from continuing operations was INR 5.64 compared to INR 4.87 a year ago. Basic earnings per share was INR 7.95 compared to INR 4.98 a year ago. Diluted earnings per share was INR 7.95 compared to INR 4.98 a year ago.
For the six months, sales was INR 47,605.43 million compared to INR 42,767.73 million a year ago. Revenue was INR 47,960.16 million compared to INR 42,974.95 million a year ago. Net income was INR 5,807.97 million compared to INR 3,502.78 million a year ago. Basic earnings per share from continuing operations was INR 11.44 compared to INR 9.2 a year ago. Diluted earnings per share from continuing operations was INR 11.44 compared to INR 9.2 a year ago. Basic earnings per share was INR 15.31 compared to INR 9.24 a year ago. Diluted earnings per share was INR 15.31 compared to INR 9.24 a year ago.
CIE Automotive India Limited is an India-based company. The Company is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers (including suppliers of components) in India and overseas. The Companyâs products include forgings, gears, iron castings, composites, magnetics, aluminum, and stampings. Its forgings products include crankshafts, CV joints, knuckles, diff crowns, and spindle. Its iron castings products include crankshafts, turbine housings, differential housings, axle housings, and gear carrier. Its composites products include front lid, wind shield-electric-3wh, electric box top tray, crash shields fuel tanks, and front bumper. Its aluminum products include crank case, pump housing, turbo cover (GDC), and brake panel. Its stampings products include chassis and structural parts, BIW panels and assemblies, cross car beam, safety assemblies, and fuel tank.