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Auto ancillary company Rane Brake Lining Ltd has reported a net profit of ₹5.91 crore for the quarter ended March 31, 2018, compared with ₹4.39 crore in the corresponding period of the previous year. During Q4 of FY17, the company had an exceptional expense of ₹14.71 crore towards the voluntary retirement scheme.
Total revenue in Q4 FY18 was ₹141.45 crore against ₹144.99 crore in the previous year. Profit before exceptional items and tax was lower at ₹12.56 crore against ₹19.42 crore in Q4 of previous fiscal. For the year ended March 31, 2018, net profit stood at ₹35.7 crore compared with ₹34.9 crore in 2016-17, an increase of 2.3 per cent. Net revenue grew by 3.5 per cent at ₹487.2 crore against ₹470.6 crore in the FY17. EBITDA stood at ₹80.6 crore (₹77.7 crore). EBITDA margin remained unchanged at 16.5 per cent for FY18.
“RBL registered a decent financial performance in FY18 on the back of strong demand from Indian OEMs in the passenger vehicle and two-wheeler segments. There was an aberration in Q1 from after-market segment which was offset in the subsequent quarters. We were able to sustain the profitability with the support of favourable commodity prices and operational performance,” said L Ganesh, Chairman, Rane Group.
A final dividend of ₹ 9 per equity share has been recommended by the board. The total dividend for the year ending March 31, 2018, is ₹15.50 per share.
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