Rane Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011
January 27, 2012 at 09:00 am
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Rane (Madras) Limited reported unaudited earnings results for the third quarter and nine months ended December 31, 2011. For the quarter, the company's net sates were INR 1,683.4 million compared with INR 1,469.6 million a year ago. Profit from operations before other income, interest and exceptional items was INR 119.3 million compared with INR 104.3 million a year ago. Profit from ordinary activities before tax was INR 93.6 million compared with INR 92.9 million a year ago. Net profit was INR 71.3 million or INR 7.01 per basic and diluted share compared with INR 72.2 million or INR 7.10 per basic and diluted share a year ago.
For the nine months, the company's net sates were INR 4,802.5 million compared with INR 4,189.7 million a year ago. Profit from operations before other income, interest and exceptional items was INR 329.8 million compared with INR 281.1 million a year ago. Profit from ordinary activities before tax was INR 260.0 million compared with INR 250.2 million a year ago. Net profit was INR 199.2 million or INR 19.60 per basic and diluted share compared with INR 195.9 million or INR 19.28 per basic and diluted share 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.