Rane Brake declares Rs. 2 interim

Rane Brake Lining has announced an interim dividend of Rs.2 per equity share of Rs.10 each for the year ending March 31, 2013.

The company has reported a sharp decline in its net profit at Rs. 101.21 lakhs in the third quarter ended December 31,2012, against Rs. 256.35 lakhs in the same period in the previous year. Sales and operating income rose by 11.5 per cent to Rs. 93.53 crore from Rs. 83.87 crore.

The company said the automobile market continued to remain weak this quarter, with major segments such as medium and heavy commercials registering decline in growth.