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Home arrow News arrow Business News arrow Rane (Madras) Limited PAT increases 139% to Rs.1.79 crores
Rane (Madras) Limited PAT increases 139% to Rs.1.79 crores Print E-mail
Written by Anand   
Wednesday, 22 July 2009
Chennai: Auto Component manufacturer, Rane (Madras) Limited (RML), a flagship company of Rane Group, registered an increase of 139% in profit after tax for the quarter ended June 30, 2009. The profit after tax has risen from Rs.0.75 crores, recorded in the same period last year, to Rs.1.79 crores.

According to a statement issued by the company, continued focus on Cost Management and Cost control initiatives had enabled RML to post higher profits during the period.

Though the company posted 6% and 32% growth in domestic OE and Replacement market respectively, it's Exports business was down by 43%. Earning per share (EPS) for the quarter (non annualized) increased to Rs 1.76 as against Rs 0.74 recorded in the same period earlier year.

RML has commenced the supply of Rack and Pinion steering gears to, Piaggio, Mahindra SCV and Tata Nano. The company also Started supply of Lower control arm to Tata Nano.

The company has commenced the export of Rack and Pinion steering gear to Polaris USA.

 
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