Rane Brake Lining nets Rs 5.8 cr as profit in Q1FY23

CHENNAI: Rane Brake Lining Ltd saw its net profit at Rs 5.8 cr for Q1 of FY23 against 7.4% in Q1 FY22. The manufacturer of brake linings, disc pads and clutch facings saw its total revenue swell to Rs 141.9 cr for Q1FY23 against Rs 97.9 cr in Q1 of FY22, an increase of 44.9%. Sales to OE customer grew 36% supported by strong demand across vehicle segments. L Ganesh, Chairman, Rane Group, said “RBL benefited from the favourable demand environment across the market segments. Higher volumes and improved operational performance helped drive profitability. Demand environment in India looks encouraging for the upcoming quarter. We remain cautiously optimistic given the evolving economic situation globally.”