Rane Brake Lining Ltd., a maker of components for transportation industry, has posted a 138% increase in its standalone net profit to ₹14.09 crore in the fourth quarter ended March 2019, from ₹5.91 crore registered in the corresponding quarter last year. Total revenue declined to ₹142.03 crore from ₹145.41 crore. Sales to Indian original equipment makers grew 7%, backed by offtake in utility vehicles, two-wheelers and medium and heavy commercial vehicles segments. It recorded 8% growth in the Indian aftermarket business. This was supported by new product launches and improved market reach.
“RBL had moderate sales growth in FY19 supported by original equipment and aftermarket segment. The forex and material cost pressure led to drop in margins. Management is focusing on various initiatives to mitigate cost escalations. We anticipate muted demand environment for next few months,” said L. Ganesh, chairman, Rane Group.
The board recommended a final dividend of ₹9 per equity share.
