CIE Automotive India Q3 Results Live: Profit Falls by 48% YOY

CIE Automotive India Q3 Results Live : CIE Automotive India declared its Q3 results on 24 Oct, 2024, revealing a significant decline in financial performance. The company's topline decreased by 6.35% year-over-year, while profit fell by a staggering 48%. Compared to the previous quarter, revenue declined by 6.89%, with profit decreasing by 9.96%.

In terms of expenses, selling, general, and administrative costs saw a decline of 10.23% quarter-on-quarter, but showed an increase of 3.37% year-over-year. This indicates that while the company has managed to cut some costs in the short term, overall expenses remain higher compared to last year.

Operating income also took a hit, falling by 9.27% from the previous quarter and decreasing by 6.1% year-on-year. The earnings per share (EPS) for Q3 stood at ₹5.13, which is an increase of 4.1% from the same period last year, providing a glimmer of hope amidst the overall decline.

CIE Automotive India has delivered a return of -4.96% in the last week, but shows a more positive trend with a 2.78% return over the past six months and a 6.78% year-to-date return. The company's current market capitalization is ₹19,066.75 crore, with a 52-week high of ₹622.4 and a low of ₹406.8.

As of 25 Oct, 2024, out of five analysts covering CIE Automotive India, one has issued a Strong Sell rating, one analyst has given a Buy rating, and three analysts have provided Strong Buy ratings. The consensus recommendation among analysts as of this date is to Buy, indicating some optimism for the company's potential recovery.