CIE Automotive recorded a steep 48% decline in its net profit for the second quarter (Q2) of the fiscal year. The company’s net profit dropped to ₹195.2 crore from ₹375.4 crore in the same quarter last year, amid rising input costs, supply chain bottlenecks, and volatile market demand.

CIE Automotive’s revenue also dropped 6.4%, standing at ₹2,134.6 crore against ₹2,279.4 crore in the year-ago period. Its EBITDA reduced by 4.5% to ₹329.7 crore, compared to ₹345.4 crore YoY, while the margin improved slightly to 15.5% from 15.2% YoY.

CIE Automotive share price dropped more than 2% on the BSE, settling at ₹503. The stock price has corrected by more than 15% in the last three months, while the one-year return is nearly 12%.