Rane Brake Lining Ltd. (RBL), a manufacturer of brake linings, disc pads and clutch facings, has posted a 11.4% increase in its standalone net profit for the first quarter ended June 2019 to ₹7.3 crore aided by the aftermarket segment. During the quarter, RBL’s net revenue dipped 3.5% to ₹118.9 crore. Sales to original equipment customers declined 9% on drop in volumes across segments. Revenue from two-wheeler segment grew 9%. Sales to aftermarket customers grew 1%, the company said.
“Despite the volume drop in Indian automotive segment, RBL managed to post a decent performance in Q1 supported by the aftermarket segment. The market outlook for near-term looks challenging and RBL is trying to build resilience through various cost control initiatives and capitalising on available opportunities in the aftermarket segment,” said L. Ganesh, chairman, Rane Group.
