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Rane Holdings announces Q2 results

Auto News - Published on Wed, 31 Oct 2018

Image Source: StockInForce
Rane Holdings Ltd has posted a 57.63% rise in its standalone net profit for the second quarter ended September 2018, at INR 35.69 crore against INR 22.45 crore on account of increased offtake across vehicle segments in the domestic market. Revenues for the second quarter increased from INR 36.51 crore to INR 51.49 crore, a rise of 41% YoY

Mr L Ganesh CMD said that "The group companies experienced strong demand from the customers and delivered robust growth. We continued to experience headwinds on material and manpower cost. Better operational performance helped to pañially offset the impact. We experience uncertainty in demand environment particularly with Indian passenger vehicle. Demand from commercial vehicle continue to remain strong."

During the period under review, revenues from lndian OE customers went up by 24 % supported by increased offtake across vehicle segments. Revenues from international customers grew by 5 %.

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Posted By : Joykumar Irom on Wed, 31 Oct 2018
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