Rane Holdings Ltd.’s (RHL) consolidated net loss for the quarter ended March has narrowed to ₹8 crore from ₹13 crore within the year-earlier interval due to increased volumes and improved operational efficiency.
Revenue from operations elevated by 20% to ₹938 crore, whereas prices of fabric rose 16% to ₹515 crore, RHL mentioned in a regulatory submitting.
The financials included a loss of ₹11 crore incurred by subsidiaries due to honest worth modifications, high quality claims and VRS expenditure.
Revenue from Indian authentic tools clients grew 10% supported by sturdy progress throughout automobile segments. Revenue from worldwide clients elevated 49% pushed by increased off-take throughout steering, valve practice, gentle metallic casting and occupant security merchandise, whereas income from the Indian aftermarket phase grew 11%.
“Though we see slowdown in major global economies, the growth momentum across vehicle segments in India continues to remain strong. We navigate this macro environment scenario cautiously prioritising operational improvement and cost reduction measures,” mentioned Rane Group chairman and managing director L. Ganesh.
The board declared a dividend of ₹17 per share, which might be paid by August 11.
