Rane Brake Lining Q2 net rises 20% on strong demand
The Hindu
The company said sales to original equipment customers grew by 25% and sales to aftermarket customers by 1%
Rane Brake Lining Ltd. has posted an almost 20% increase in standalone net profit for the second quarter to ₹6.5 crore from the year-earlier period due on strong demand across vehicle segments.
Income from operations grew by 15% to ₹141 crore, the maker of brake linings and disc pads said in a regulatory filing.
The company said sales to original equipment customers grew by 25% and sales to aftermarket customers by 1%.
“Material-price inflation remained a challenge for RBL in the quarter,” Rane Group Chairman L. Ganesh said. “[The] management is working to mitigate the higher material prices through various cost-reduction measures and partial recovery from customers.”
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