CIE Automotive India Limited Q4 Results: Net Profit at Rs 168.94 cr, Rs 5 dividend announced

CIE Automotive India Limited, on February 19, reported a net profit of Rs 168.94 crore in Q4FY24 against a loss of Rs 657.81 crore in the same period last year. 

The revenue from operations of the multi-technology automotive components supplier decreased 0.2 per cent to Rs 2,240.39 crore in Q4FY24. The operating revenue was Rs 2,246.8 crore in the same quarter last year. However, the other income of the company increased 8.3 per cent to Rs 26.50 crore as compared to Rs 24.39 crore a year ago.

CIE Automotive India Limited has declared a final dividend of Rs 5 per ordinary equity share of face value of Rs 10 each for the financial year ended 31st December 2023.

The EBITDA margins rose 11.9 per cent at Rs 327 crore as compared to Rs 292 crore in the same quarter last year.

The Board has greenlit the arrangement for the 25th Annual General Meeting of the Company's Members (AGM) to be held via Video Conferencing or Other Audio Visual Mechanism on Thursday, June 20, 2024, at 3:30 P.M.

The Board of Directors approved a capital increase for Bill Forge De Mexico, S.A. DE C.V. (BF Mexico). They also waived the right of first refusal, with CIE Galfor S.A.U (Galfor) in Spain subscribing to the increase.