Rane Brake Lining Q4 PAT Up 28% to Rs 15.4 cr - Business News

Chennai, May 3 (PTI) Manufacturer of brake linings, and disc pads, Rane Brake Lining Ltd has recorded a 28 percent rise in its profit after tax for the January-March 2024 quarter at Rs 15.4 crore.


The city-based company had registered a profit after tax of Rs 12 crore during the corresponding quarter of last year.


Total revenue generated during the January-March 2024 quarter grew by 12.6 per cent to Rs 186.7 crore, as compared to Rs 165.8 crore registered in the same period last year.


For the financial year ending March 31, 2024, the profit after tax rose by 20.4 per cent to Rs 40.3 crore, from Rs 33.5 crore recorded during the same period of last year.


Total revenues for the year ending March 31, 2024, grew by 9.2 per cent to Rs 663 crore, from Rs 607.1 crore collected in the same period of last fiscal.


The Board which met on Friday has recommended a dividend of Rs 30 per equity share on the paid-up capital of 77,29,871 shares of Rs 10 each.


The company, in a statement, said it achieved the highest sales for the quarter and the financial year 2023-24.


Sales to Original Equipment customers grew by 18 per cent and the strong growth demand was led by two-wheelers and passenger vehicle segments. Sales made to after-market customers grew by 6 per cent while overseas shipments made during the year surged by 33 per cent.


The Earnings Before Interest Tax Depreciation and Amortization margin improved by 267 basis points mainly driven by operational improvement and favorable forex, the statement added.