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Auto ancillary firm Rane Brake Lining has reported an eight per cent fall in net profit to ₹9.30 crore for the quarter ended September 30, 2017, from ₹10.1 crore.
Total operating income was marginally up at ₹112.3 crore from ₹110.8 crore. During this September quarter, sales to Indian OE customers were muted, but favourable growth was reported in the two-wheeler segment.
“After challenging Q1FY18, we saw demand revival in the aftermarket segment. Favourable material cost and strategic cost savings supported to deliver strong operating margin. We remain cautiously optimistic for H2 FY18 as we envisage headwinds on aftermarket demand environment and increasing material costs,” said L Ganesh, Chairman, Rane Group.
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