Rane Madras Ltd.’s standalone net profit for the quarter ended December saw a more than fourfold rise to ₹33 crore on strong revenue growth.
Sales to Indian original equipment customers grew 28% supported by strong demand across vehicle segments. Export sales grew 68%. Sales to Indian aftermarket customers bounced back with a growth of 12%.
Revenue from operations rose to ₹526 crore from ₹391 crore, while input cost increased by 32% to ₹358 crore, the company said in a regulatory filing.
The result included exceptional loss of ₹2.61 crore associated with voluntary retirement scheme.
“RML posted strong revenue growth supported by robust demand environment in India and strong offtake from international customers. Higher volumes and favourable mix helped to improve margins,” said L. Ganesh, chairman, Rane Group.
Published - February 08, 2023 08:27 pm IST
