Rane Madras Q2 standalone net slumps 61% to ₹2.8 cr.
Rane Madras Ltd. reported standalone net profit for the September quarter contracted by 61% from the year-earlier period to ₹2.8 crore.
Income from operations declined by 8% to ₹529 crore, the leading manufacturer of steering and suspension products said in a statement.
Sales to domestic original equipment customers declined by 10%. .
Export sales declined by 6%. Lower off-take of steering products, particularly in the all-terrain vehicles (ATV) segment, and sales to Indian aftermarket customers had muted growth.
Published - October 24, 2024 07:53 pm IST
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