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Rane Holdings, the holding company of the Rane Group, has more than doubled its consolidated profit after tax at ₹ 44.5 crore for the third quarter ended December 31, 2017 against ₹21.3 crore in the year-ago period.
Total net revenue grew by 20 per cent at ₹ 594.5 crore against ₹496.7 crore
EBITDA stood at ₹70.4 crore against ₹ 48.3 crore in the same period last year, an increase of 46 per cent. EBITDA margin improved to 11.8 per cent from 9.7 per cent.
Rane Group Companies’ total net revenue grew by 30 per cent to ₹1,227.6 crore from ₹947.4 crore in the corresponding period last fiscal. PBT stood at ₹100.5 crore against ₹ 45 crore.
“Rane Group companies delivered strong revenue growth supported by favourable market environment in India and robust demand from International customers. With the strong operational performance, the group companies improved profitability. We are still working on addressing the challenges in certain businesses. We expect demand environment to remain positive in the upcoming quarters,” L Ganesh, Chairman & Managing Director, Rane Holdings Ltd.
An interim dividend of ₹ 5.50 per equity share has been declared by the Board.
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