Rane Holdings posts consolidated net profit of ₹21 cr in Q1

BL Chennai Bureau | | Updated on: Aug 04, 2022
L. Ganesh, Chairman and Managing Director, Rane Holdings Ltd,

L. Ganesh, Chairman and Managing Director, Rane Holdings Ltd, | Photo Credit: BIJOY GHOSH

Rane Holdings’ consolidated revenue grew 54.4 per cent to ₹821 crore

Rane Holdings, the holding company of the Rane Group, reported a consolidated profit after tax of ₹20.6 crore for the quarter ended June 2022 compared with ₹20.7 crore in the year-ago period. 

But, consolidated PBT was higher at ₹30.7 crore compared to ₹19.6 crore. 

Total consolidated revenue grew 54.4 per cent to ₹821.1 crore  (₹531.9 crore). 

EBITDA stood at ₹56.9 crore (₹23.4 crore), an increase of 143.8 per cent. EBITDA margin was higher at 6.9 per cent against 4.4 per cent in Q1 of FY22. 

In Q1 of the current fiscal, revenue from Indian OE customers grew 53 per cent supported by strong growth across vehicle segments, while revenues from International customers increased 27 per cent driven by higher offtake for steering and valve train products. Indian aftermarket segment revenue grew 94 per cent, according to a statement.

“The group companies benefited from the favourable demand environment across the market segments. Higher volumes and improved operational performance helped drive profitability. The demand environment in India looks encouraging for the upcoming quarter. We remain cautiously optimistic given the evolving economic situation globally,” said L Ganesh, Chairman and Managing Director, Rane Holdings Ltd.

Published on August 04, 2022
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