Rane Holdings posts ₹3.05-crore loss

Our Bureau Chennai | Updated on February 06, 2020

Consolidated revenue falls 14% to ₹546 crore

Rane Holdings Ltd, the holding company of the Rane Group, has posted a consolidated net loss of ₹3.05 crore for the third quarter of FY20, against a profit of ₹20 crore in the same period last year.

Its total consolidated revenue fell 14 per cent to ₹546 crore (₹638 crore) for the December 2019 quarter. The company recorded a negative profit before tax (PBT) at ₹5.15 crore (₹35.33 crore). Sales declined 16.02 per cent to ₹510 crore (₹608 crore).

Rane’s EBITDA stood at ₹44.4 crore (₹63.3 crore). The company declared an interim dividend of ₹4 per equity share on a paid-up capital of 1,42,77,809 equity shares of ₹10 each.

The Rane board has also approved the re-appointment of L Ganesh as Managing Director (in the designation of Chairman) for five years effective from April 1, 2020. The re-appointment is subject to the approval of the shareholders at the next general meeting, the company said in a regulatory filing.

Published on February 06, 2020

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