Rane Madras Q1FY19 profit spikes to Rs 4.08 crore
Rane (Madras), a leading manufacturer of steering and suspension products and die casting components, today announced its results for the quarter ended June 30, 2018.
The consolidated revenue for the quarter came in at Rs 394.22 crore, registering an increase of 23.4 per cent YoY.
The company reported strong earnings led by robust performance of steering business. The company has seen strong demand for both steering and die-cast products from Indian customers.
The operating profit for the quarter came in at Rs 27.85 as against operating profit of Rs 23 crore in the corresponding quarter previous year with a corresponding margin expansion of 679 bps. The EBITDA margin for the quarter stood at 7.1 per cent.
The PAT for the quarter came in at Rs. 4.08 as against net profit of just Rs 0.02 crore in the corresponding quarter last year.
On Wednesday, the stock opened at Rs 723 and made an intra-day high and low of Rs. 730 and Rs. 691, respectively, and finally closed at Rs. 695.35 on the BSE.