Rane Engine reports ₹2.4 cr loss in Q2

Rane Engine Valves reported a net loss of ₹2.4 crore for the quarter ended September 30, 2017. During the comparable quarter previously, it reported a net profit of ₹61.9 crore due to an exceptional income of ₹94 crore on account of land sale in Chennai. EBITDA stood at ₹5.2 crore (₹2.3 crore). EBITDA margin stood at 5.5 per cent against 2.6 per cent in the year-ago period. Lower finance costs resulted in reducing the loss for the second quarter of this fiscal. Net revenue stood at ₹94 crore (₹91 crore), an increase of four per cent, according to a statement.