Rane Limited Announces Unaudited Standalone Financial Results for the Third Quarter and Nine Months Ended December 31, 2016
January 23, 2017 at 07:56 am
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Rane (Madras) Limited announced unaudited standalone financial results for the third quarter and nine months ended December 31, 2016. For the third quarter, the company's net sales were INR 2,364.69 million against INR 2,006.48 million for the same period last year. Total income from operations was INR 2,446.61 million against INR 2,045.18 million for the same period last year. Profit from operations before other income, finance costs and exceptional items was INR 85.81 million against INR 82.01 million for the same period last year. Profit from ordinary activities before tax was INR 18.29 million against INR 40.53 million for the same period last year. Net profit from ordinary activities after tax was INR 27.21 million against INR 31.99 million for the same period last year. Earnings per share before and after extraordinary items, basic and diluted, were INR 2.43 against INR 2.88 for the same period last year. EBITDA was INR 201.7 million against INR 178.3 million a year ago.
For the nine months, the company's net sales were INR 7,007.80 million against INR 6,096.09 million for the same period last year. Total income from operations was INR 7,297.38 million against INR 6,235.81 million for the same period last year. Profit from operations before other income, finance costs and exceptional items was INR 337.57 million against INR 282.85 million for the same period last year. Profit from ordinary activities before tax was INR 138.13 million against INR 136.03 million for the same period last year. Net profit from ordinary activities after tax was INR 119.99 million against INR 100.11 million for the same period last year. Earnings per share before and after extraordinary items, basic and diluted, were INR 10.94 against INR 9.04 for the same period last year. EBITDA was INR 682.9 million against INR 570.9 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.