Rane Engine Valve Limited (REVL) registerd a net loss of ₹2.38 crore for the second quarter ended September 2017 against a net profit of ₹62.14 crore in the year-earlier period on lower offtake in the aftermarket segment in India.
However, it was able to contain the loss due to lower finance costs, according to a statement. During the quarter under review, REVL posted total revenue of ₹94 crore against ₹99 crore.
“We experienced challenges in demand fulfilment owing to delivery bottlenecks in one of our manufacturing facilities,” said L. Ganesh, chairman, Rane Group. “We continue to focus on the operational performance with stringent cost control measures. We anticipate strong demand from Indian and international original equipment customers in the upcoming quarters,” he said.
