Rane Q2 net profit jumps to ₹16.53 crore
The Hindu
Rane Holdings Ltd.’s consolidated net profit for the second quarter ended September 30, rose threefold to ₹16.53 crore on strong growth. Total revenue rose 33% to ₹697 crore from the year-earlier pe
Rane Holdings Ltd.’s consolidated net profit for the second quarter ended September 30, rose threefold to ₹16.53 crore on strong growth. Total revenue rose 33% to ₹697 crore from the year-earlier period, the company said. “The group companies experienced strong growth across market segments. Increase in commodity prices impacted the profitability,” said L. Ganesh, CMD.
Demand revival continues to be strong. However, supply constraints due to semiconductor shortage remain a concern. The businesses are working on cost-reduction initiatives to mitigate inflationary pressures,” he said.
Rane Holdings said that revenue from Indian OE customers grew 28%. There was strong demand across vehicle segments, except two-wheelers.
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