Rane Holdings Limited on Thursday posted a consolidated net loss of ₹12.8 crore for the fourth quarter of FY22, against a net loss of ₹20.3 crore for the same quarter of FY21. The company posted a consolidated net profit of ₹10.6 crore in the third quarter of FY22.
“Despite the third wave of coronavirus in India and supply chain constraints, the demand environment remained favourable in Q4 FY22. We continue to experience robust demand across vehicle segments. The group companies navigated the inflationary environment through cost savings initiatives and improved operational performance,” L Ganesh, Chairman and Managing Director, Rane Holdings Ltd, said, in a press release.
Consolidated revenue from operations on a year-on-year basis grew by 17 per cent to ₹783 crore (₹670 crore) in Q4FY22.
For the full year, the company posted a net profit of ₹35.06 crore in FY22 against a net loss of ₹60.35 crore in FY21.