Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEarnings

Rane Brake Lining Q1 net up 11.56% at Rs 7.33 cr

Rane Brake Lining, engaged in manufacturing of steering and suspension systems, friction materials among others had clocked net profits at Rs 6.57 crore same period of last year.

July 25, 2019 / 04:43 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Rane Brake Lining Ltd has recorded a 11.56 per cent rise in its net profits to Rs 7.33 crore for the quarter ending June, the city-based company said on July 25.

Rane Brake Lining, engaged in manufacturing of steering and suspension systems, friction materials among others had clocked net profits at Rs 6.57 crore same period of last year.

For the financial year ending March 31, 2019 net profits of the company was at Rs 36.53 crore.

Total revenue for the April-June quarter slipped to Rs 118.91 crore from Rs 123.16 crore registered year ago.

For the financial year ending March 31, 2019, total revenue of the company was at Rs 520.97 crore.

Commenting on the financial performance, Rane Group Chairman L Ganesh said despite the volume drop in Indian automotive segment RBL managed to post decent performance in Q1 supported by 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 aftermarket segment," he said.

PTI
first published: Jul 25, 2019 04:42 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347