Latest News | Rane Brake Lining Clocks Q4 PAT at Rs 13.1 Cr
Get latest articles and stories on Latest News at LatestLY. Manufacturers of brake linings and disc pads, Rane Brake Lining Ltd recorded a profit after tax for the quarter ending March 31, 2022 at Rs 13.1 crore, the company said on Wednesday.
Chennai, May 18 (PTI) Manufacturers of brake linings and disc pads, Rane Brake Lining Ltd recorded a profit after tax for the quarter ending March 31, 2022 at Rs 13.1 crore, the company said on Wednesday.
The city-based firm of diversified conglomerate Rane Group registered profit after tax at Rs 14.3 crore in corresponding quarter previous year.
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For the financial year ending March 31, 2022 standalone PAT slipped to Rs 27.1 crore, from Rs 31.8 crore registered year ago, the company statement said.
Total revenue during the quarter under review rose to Rs 157 crore, from Rs 152.4 crore registered same quarter last fiscal.
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Total revenue for the year ending March 31, 2022 surged to Rs 518.2 crore, from Rs 434.8 crore registered last year.
The Board of Directors have recommended a dividend of Rs 20 per equity share on the paid up capital of 77,29,871 of Rs 10 each, it said.
Commenting on the performance, Rane Group chairman L Ganesh said, "Despite the third wave of coronavirus in India and supply chain constraints, the demand environment remained favourable in Q4 FY22."
"We continue to experience robust demand across vehicle segments. RBL is working on various cost management initiatives to mitigate the inflationary pressure", he said.
During the quarter under review, sales to original equipment customers grew by 10 per cent while revenue to aftermarket customers declined 4 per cent.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) margin dropped by 422 basis points (bps). The material cost increase and adverse product mix resulted in drop in margins, the company said.
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