Comments
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 Thursday.
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.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.