Rane Limited Announces Unaudited Standalone Earnings Results for the Quarter and Nine Months Ended December 31, 2017
January 23, 2018 at 02:53 am
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Rane (Madras) Limited announced unaudited standalone earnings results for the quarter and nine months ended December 31, 2017. For the quarter, the company reported total revenue of INR 3,186.420 million compared to INR 2,656.381 million a year ago. Profit before exceptional items was INR 197.602 million compared to INR 28.767 million a year ago. Profit before tax was INR 197.602 million compared to INR 28.767 million a year ago. Profit for the period was INR 142.224 million compared to INR 34.065 million a year ago. Earnings per diluted share were INR 11.88 compared to INR 3.24 a year ago. EBITDA was INR 385 million against INR 211 million a year ago. Net sales were INR 3,179 million against INR 2,413 million a year ago. Net sales increased by 31.7% due to strong demand from Indian OE customers across vehicle segments and higher demand from Indian Aftermarket. EBITDA increased by 82.8% due to increased volume, favorable product mix and improved operational performance helped post strong margin improvement. PBT increased by 586.9% due to lower finance cost helped to improve PBT margin.
For the nine months, the company reported total revenue of INR 8,917.884 million compared to INR 7,906.087 million a year ago. Profit before exceptional items was INR 357.236 million compared to INR 163.645 million a year ago. Profit before tax was INR 357.236 million compared to INR 163.645 million a year ago. Profit for the period was INR 253.416 million compared to INR 136.679 million a year ago. Earnings per diluted share were INR 22.93 compared to INR 13.00 a year ago. EBITDA was INR 947 million against INR 704 million a year ago. Net sales were INR 8,639 million against INR 7,206 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.