Rane Engine Valve Q4 PAT Flat at Rs 4.7 cr - Business News

Chennai, May (PTI) Rane Engine Valve Ltd on Tuesday reported a profit after tax for the January-March 2024 quarter at Rs 4.7 crore.

The city-based manufacturer of engine valves, had clocked PAT at Rs 4.9 crore during the corresponding quarter of last year. For the year ending March 31, 2024, the profit after tax stood at Rs 11.5 crore, Rane Engine Valve Ltd said in a statement.

Total revenue during the quarter under review grew to Rs 151.2 crore, as compared to Rs 136.5 crore registered in the corresponding period of last year. For the year ending March 31, 2024, the total revenue went up to Rs 570.3 crore, as against Rs 499.6 crore registered during the same period of last year.

The board which met here today has recommended a dividend of Rs 5 per equity share on a paid-up capital of 72,34,455 shares of Rs 10 each.

Sharing some of the operating highlights during the quarter, Rane Engine Valves said the sales to original equipment manufacturers grew by 14 per cent which was supported by strong off-take from passenger vehicle and two-wheeler customers.

Export sales during the quarter witnessed a 1 per cent growth while sales to aftermarket Indian customers grew by 28 per cent.

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin declined by 46 basis points due to adverse product mix, the company said.