Rane Holdings posts consolidated loss of ₹48 cr. in Q3
The Hindu
Rane Holdings Ltd. reports Q3 net loss of ₹48 crore, with revenue decreasing by 7% to ₹841 crore.
Rane Holdings Ltd. (RHL) reported consolidated Q3 net loss of ₹48 crore against a loss of ₹51 crore in the year earlier period.
Total revenue decreased by 7% to ₹841 crore, the company said in a statement.
Revenue from Indian original equipment customers grew by 12% supported by strong growth across passenger vehicles and commercial vehicles segments.
Revenue from international customers declined by 10% due to divestment of light metal casting (LMCA) business. Organic growth was 4%. Revenue from aftermarket segment grew 1%.
“Despite sluggish demand on certain segments and increased risks globally, we remain cautiously optimistic and prioritise on cost savings initiatives,” said Group Chairman L. Ganesh.
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