Rane Brake Lining records net profit of Rs 5.2 crore for Q1 FY24
“The favourable demand environment in Q1 FY 24 helped RBL sustain the growth momentum. Demand across major vehicle segments continues to remain robust
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CHENNAI: Rane Brake Lining reported a profit after tax of Rs 5.2 crore for Q1 FY24 compared to Rs 5.8 cr in Q1 FY23. Its total revenue stood at Rs 153.1 crore for Q1 FY24 against Rs 141.9 crore in the Q1 FY23, an increase of 7.9%.
Sales to OE customer grew 8%. This was driven by strong sales to two wheeler segment. Sales to aftermarket customers grew 10%. The drop in EBITDA margin by 75 bps was due to unfavourable forex and increase in employee expenses.
“The favourable demand environment in Q1 FY 24 helped RBL sustain the growth momentum. 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 programmes in the upcoming quarter,” said L Ganesh, chairman, Rane Group.