Auto component maker Rane (Madras) Ltd (RML) has reported a 64 per cent rise in its standalone net profit at ₹13.8 crore the second quarter ended September 30, 2018 when compared with ₹8.4 crore in a year-ago period, aided by lower depreciation and finance cost on the back of better operating performance.

Total net revenue stood at ₹356.1 crore when compared with ₹297.3 crore, an increase of 20 per cent. EBITDA stood at ₹40.5 crore as against ₹32.5 crore in Q2 of previous fiscal, an increase of 24.5 per cent.

Despite the unfavourable mix, inflationary pressure on raw material and employee cost, EBITDA margin improved by 43 bps due to increased volume and improved operational performance, according to a statement.

“RML’s performance in this quarter was supported by strong performance of steering business. Favourable demand environment in India helped both Steering and die casting businesses. The India die casting business and Rane Precision Die Casting (RPDC) experienced lower pull from international customers. We are working to improve the sales and operational performance of RPDC,” said L Ganesh, Chairman, Rane Group.

For the half year ended September 30, 2018, its net profit more than doubled to ₹27.2 crore from ₹11.1 crore in the same period previous year.

Total net revenue grew 23 per cent at ₹707.2 crore (₹573.1 crore).