Q1FY24 Quarterly Result Announced for Rane Holdings Ltd.
Auto parts & equipment company Rane Holdings announced consolidated Q1FY24 results: Total revenue was Rs 897.7 crore in Q1FY24 compared to Rs 821.1 crore in Q1FY23, an increase of 9.3% EBITDA stood at Rs 80.9 crore compared to Rs 58.0 crore during Q1FY23, an increase of 39.5% EBITDA margin at 9.0% for Q1FY24 against 7.1% in Q1FY23 Net profit stood at Rs 12.1 crore for Q1FY24 compared to Rs 20.6 crore in Q1FY23, a decrease of 41.3% "Q1FY24 was an eventful quarter for Rane Group companies with demand remaining strong across major customer segments in India and International markets. Focused cost reduction initiatives and favourable material price trends resulted in profitability improvement. Demand across major vehicle segments continues to remain robust. We are closely monitoring the evolving economic indicators and continuing to prioritise cost reduction and operational improvement programs in the upcoming quarter," said L. Ganesh, Chairman & Managing Director, Rane Holdings. Result PDF04-08-2023