Rane Engine Valve turned a profit of ₹3.5 cr. in Q3
The Hindu
CHENNAI Rane Engine Valve Ltd. (REVL) reports Q4 net profit of ₹3.5 crore, with revenue rising 10%.
Rane Engine Valve Ltd. (REVL) has posted a standalone net profit of ₹3.5 crore for the December quarter against a loss of ₹1.77 crore incurred in the year-earlier period.
Revenue from operations rose 10% to ₹136 crore, while costs of material consumed increased marginally to ₹57 crore from ₹52 crore, the leading manufacturer of Engine Valves, Guides and Tappets said in a statement.
Sales to India original equipment customers grew by 14% supported by strong off-take from passenger vehicle and commercial vehicle customers.
Export sales grew by 4%. Demand from international OE customers remained strong which was partially offset by drop in the aftermarket customers. Sales to Indian aftermarket customers grew by 12%.
“REVL continued to benefit on account of the favourable demand environment. The demand continues to remain robust in India though there are increased risk factors globally. Management continues to work on improving the operations and the financial performance,” said Rane Group Chairman L. Ganesh.
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