Rane Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 25, 2024 at 08:33 am EST
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Rane (Madras) 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 5,210.5 million compared to INR 5,832.4 million a year ago. Revenue was INR 5,224.2 million compared to INR 6,127.1 million a year ago. Net income was INR 90.9 million compared to INR 237.1 million a year ago. Basic earnings per share from continuing operations was INR 5.59 compared to INR 14.58 a year ago. Diluted earnings per share from continuing operations was INR 5.59 compared to INR 14.58 a year ago.
For the nine months, sales was INR 17,206.3 million compared to INR 17,328.8 million a year ago. Revenue was INR 17,242.5 million compared to INR 17,422 million a year ago. Net income was INR 123.9 million compared to INR 204.8 million a year ago. Basic earnings per share from continuing operations was INR 7.61 compared to INR 12.6 a year ago. Diluted earnings per share from continuing operations was INR 7.61 compared to INR 12.6 a year ago.
Rane (Madras) Limited is a manufacturer and supplier for global automotive companies. It manufactures steering and suspension systems, friction materials, valve train components, occupant safety systems, light metal casting products and provides connected mobility solutions. It has two divisions, namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). SLD manufactures mechanical steering gears, hydrostatic steering systems and steering and suspension linkage products. LMCI manufactures low porosity, light metal casting, such as steering housings and engine case covers. It manufactures high pressure light metal casting components from its facility in Kentucky, United States. Its products serve a variety of industry segments, including passenger vehicles, commercial vehicles, farm tractors, two-wheelers, three-wheelers, railways, and stationary engines. It has manufacturing facilities at Tamil Nadu, Puducherry, Karnataka, Uttarakhand, and Telangana.
RANE (MADRAS) LIMITED 
