Rane Engine Valve Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 31, 2024 at 01:08 am EST
Share
Rane Engine Valve Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 1,364.2 million compared to INR 1,240.6 million a year ago. Revenue was INR 1,369.1 million compared to INR 1,247.7 million a year ago. Net income was INR 35 million compared to net loss of INR 17.7 million a year ago. Basic earnings per share from continuing operations was INR 4.84 compared to basic loss per share from continuing operations of INR 2.63 a year ago. Diluted earnings per share from continuing operations was INR 4.84 compared to diluted loss per share from continuing operations of INR 2.63 a year ago.
For the nine months, sales was INR 4,169.3 million compared to INR 3,618.6 million a year ago. Revenue was INR 4,191.5 million compared to INR 3,631.1 million a year ago. Net income was INR 67.2 million compared to net loss of INR 49.2 million a year ago. Basic earnings per share from continuing operations was INR 9.36 compared to basic loss per share from continuing operations of INR 7.33 a year ago. Diluted earnings per share from continuing operations was INR 9.36 compared to diluted loss per share from continuing operations of INR 7.33 a year ago.
Rane Engine Valve Limited is an India-based company that is engaged in the manufacture and supply of auto components for transportation industry. The Company is involved in the manufacture of engine valves, guides and tappets for passenger cars, commercial vehicles, farm tractors, stationery engines, railway/marine engines, and two/three wheelers. It manufactures components for internal combustion engine industry applicable for stationery and transportation engine applications. Its product categories include engine valves, valve guides, and mechanical tappets. The Companyâs applications include marine applications, diesel engines, tractors, locomotives, battle tanks and automobile industry. The Company has five plants manufacturing engine valves, valve guides, and tappets are located in Chennai (one), Hyderabad (two), Trichy (one) and Erstwhile Kar mobiles in Tumkur (one). It serves various markets, such as railway, defense, and original equipment manufacturer (OEM).
RANE ENGINE VALVE LIMITED 
