Rane Engine Valve Q3 loss at Rs 1.8 crore

CHENNAI: Rane Engine Valve Limited has reported total income of was Rs 124.8 crore for Q3 FY23 compared to Rs 99.1 crore in the Q3 FY22, an increase of 25.9%. Its net loss stood at Rs 1.8 crore for Q3 FY23 compared to loss of Rs 3.0 crore in Q3 FY22. L Ganesh, chairman, Rane Group, said

“Favourable demand environment continued in Q3 FY23. Management continues to execute various initiatives identified to improve operational performance.” For Q3 FY23, sales to India OE customers grew by 26% supported by strong off-take from passenger vehicle and non-automotive customers. Export sales grew by 31% while demand from International customers remained strong. Sales to Indian aftermarket customers grew by 10%, it said in a release.