Rane Engine Valve Ltd. on Thursday reported first-quarter net loss narrowed to ₹5.8 crore, from ₹16.3 crore a year earlier.
Total revenue more than doubled to ₹76 crore.
“Q1FY22 was an eventful quarter with the country weathering the second wave of coronavirus,” said L. Ganesh, chairman, Rane Group.
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“Demand environment in India looks encouraging for the upcoming quarter,” he added.
“Commodity price rise remains a concern. Despite the challenges, the management continues to implement cost-reduction and operational-improvement steps to progress on the turnaround plan,” said Mr. Ganesh.
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