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Rane group company, Rane Brake Lining Ltd has posted a 33 per cent dip in first quarter net profit at Rs 2.44 crore, from Rs 3.66 crore in the previous corresponding quarter. Total income for the quarter fell six per cent to Rs 93.52 crore (Rs 99.52 crore). The automobile market in the country continued to remain weak this quarter, with the exception of the farm tractor segment, said the company in a release. Sales to domestic auto makers and after-market sales declined 12 per cent and five per cent, respectively. However, sales to the Railways and the exports market grew 29 per cent and two per cent, respectively.
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