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Rane Group profit down by 18.5pct

Auto News - Published on Wed, 09 May 2018

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Economic Times reported that Rane Holdings Ltd, the holding company of Rane group has reported 18.5 % decline in its net profit at INR 148.5 crore for the financial year 2017-18. The company had posted a net profit of INR 182.3 crore during the same period previous fiscal.

The company's total consolidated revenue during the fiscal, however, grew 3.7 % to INR 2,375.1 crore as against INR 2,273.8 crore in the year ago period.

Mr L Ganesh, Chairman and Managing Director, Rane Holdings Ltd said that “FY18 was good year for the Group supported by strong demand environment and new business launches. The turnaround of operations is underway in few businesses."

On outlook, he said that "we expect the demand environment to remain favourable though there is increased threat of trade restrictions."

Total expenses during the period grew 4.1 % to INR 2,262.4 crore compared to INR 2,173.8 crore.

Source :

Posted By : Nanda Koijam on Wed, 09 May 2018
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