Rane Madras Ltd.’s standalone net profit for the second quarter surged 87% to ₹16 crore following strong demand across vehicle segments and export orders.

Revenue from operations rose 30% to ₹537 crore, the manufacturer of steering and suspension products said in a filing.

Sales to Indian original equipment customers grew 46% and export sales by 16%. Demand for light metal castings products remained strong. However, sales to Indian aftermarket customers declined by 11%.

“The demand environment remains strong with the ongoing festive season. However, we remain cautious given the global economic situation and tightening monetary policy,” said L. Ganesh, chairman, Rane Group.

Source link

By Dipak

Leave a Reply

Your email address will not be published. Required fields are marked *