Comments
Auto ancillary Rane Brake Lining Ltd reported 26 per cent rise in net profit at ₹9.98 crore for the quarter ended December 31, 2016, when compared with a profit of ₹7.91 crore in a year-ago period, helped by better operating performance.
Its EBITDA stood at ₹17.66 crore against ₹16.44 crore in Q3 of previous fiscal, an increase of seven per cent. Total operating income stood at ₹119.50 crore against ₹111.68 crore.
“Despite headwinds, RBL clocked a steady performance on the back of robust demand from Indian OEMs in passenger vehicle segment coupled with our ongoing cost reduction initiatives,” said L Ganesh, Chairman, Rane Group.
For the nine-month period ended December 31, 2016, net profit grew by 82 per cent at ₹30 crore when compared with ₹17 crore in a year-ago period. Total income was ₹354.03 crore against ₹324.64 crore.
An interim dividend of ₹6 per equity share has been declared by the board.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.