Rane Engine Valve Reports Q2 PAT Rise: Rs 5.7 cr

Chennai, Oct 23 (PTI) Manufacturer of engine valves, Rane Engine Valve Ltd has recorded a 287.7 per cent rise in its profit after tax for the July-September 2024 quarter at Rs 5.7 crore, the company said.

The city-based company had registered a profit after tax of Rs 1.5 crore during the corresponding quarter of last financial year.

The profit after tax for the six month period ending September 30, 2024 surged by 152.7 per cent to Rs 8.1 crore, as compared to Rs 3.2 crore registered in the corresponding six months of last year.

Total revenue during the quarter under review grew to Rs 147.6 crore, as against Rs 143.7 crore registered in the same quarter of last year.

The total revenue for the half year ending September 30, 2024 marginally went up to Rs 287.8 crore from Rs 282.2 crore registered in the corresponding period of last financial year.

Sales to Indian Original Equipment customers during the July-September quarter grew by 12 per cent which was supported by strong off-take from passenger vehicle customers.

However, sales made overseas declined by 9 per cent during the quarter as demand from export customers remained weak, it said.

Favourable material price and other cost savings initiatives helped the company improve its EBITDA (Earnings Before Interest, taxes, depreciation and amortisation) margin by 501 basis points, the statement added.