Rane (Madras) Q1 net profit up two-fold to Rs 4.61 crore
Auto component-maker Rane (Madras) Ltd on Monday reported an over two-fold jump in net profit for the quarter ended June 30 to Rs 4.61 crore.
By PTI |
NEW DELHI: Auto component-maker Rane (Madras) Ltd on Monday reported an over two-fold jump in net profit for the quarter ended June 30 to Rs 4.61 crore.
The company had recorded a net profit of Rs 1.79 crore in the corresponding period of the last fiscal, Rane (Madras) said in a statement.
Total income during the first quarter of this fiscal increased by 43.16 per cent to Rs 131.54 crore from Rs 91.88 crore in the year-ago period, it added.
Rane Group Chairman L Ganesh said the auto industry continued to record healthy growth in the April-June period of 2010-11.
However, a rise in steel prices and premium freight charges incurred during the three-month period affected the profitability of the company to some extent, he added.
The company had recorded a net profit of Rs 1.79 crore in the corresponding period of the last fiscal, Rane (Madras) said in a statement.
Total income during the first quarter of this fiscal increased by 43.16 per cent to Rs 131.54 crore from Rs 91.88 crore in the year-ago period, it added.
Rane Group Chairman L Ganesh said the auto industry continued to record healthy growth in the April-June period of 2010-11.
However, a rise in steel prices and premium freight charges incurred during the three-month period affected the profitability of the company to some extent, he added.
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