Rane Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 22, 2014 at 01:11 pm
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Rane (Madras) Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net sales or income from operations of INR 1,615.855 million against INR 1,566.804 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 94.615 million against INR 101.001 million a year ago. Profit from ordinary activities before tax was INR 64.725 million against INR 76.607 million a year ago. Net profit was INR 52.965 million against INR 61.624 million a year ago. EBITDA was INR 141.6 million.
For the nine months, the company reported net sales or income from operations of INR 4,784.779 million against INR 4,659.123 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 264.206 million against INR 275.246 million a year ago. Profit from ordinary activities before tax was INR 94.967 million against INR 197.660 million a year ago. Net profit was INR 82.160 million against INR 153.357 million a year ago.
Rane (Madras) Limited is a manufacturer and supplier for global automotive companies. It manufactures steering and suspension systems, friction materials, valve train components, occupant safety systems, light metal casting products and provides connected mobility solutions. It has two divisions, namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). SLD manufactures mechanical steering gears, hydrostatic steering systems and steering and suspension linkage products. LMCI manufactures low porosity, light metal casting, such as steering housings and engine case covers. It manufactures high pressure light metal casting components from its facility in Kentucky, United States. Its products serve a variety of industry segments, including passenger vehicles, commercial vehicles, farm tractors, two-wheelers, three-wheelers, railways, and stationary engines. It has manufacturing facilities at Tamil Nadu, Puducherry, Karnataka, Uttarakhand, and Telangana.
RANE (MADRAS) LIMITED 
