NEWS

Rane Engine Valve reports Rs 15.08 crore profit in Q1 FY16

Wednesday, Jul 22, 2015

Its results are not comparable with the year-ago period because it includes the effects of merger of Kar Mobile Limited (KML) with the company.

Auto component maker and Rane group company Rane Engine Valve has reported a Rs 15.08 crore profit in the first quarter of FY 16, fuelled by an exceptional income through sale of part of its land at Alandur in Chennai, which amounted to Rs 27.54 crore.

Its results are not comparable with the year-ago period because it includes the effects of merger of Kar Mobile Limited (KML) with the company.

The overall domestic automobile market registered marginal growth in volumes over the same period last year.

The Passenger Vehicle segment (PC, MUV and MPV) and three wheeler achieved a moderate growth. In the Commercial vehicle segment, the M&HCV continued to grow significantly and the SCV registered negative growth.

The two-wheeler segment remained flat and there was a drop in the farm tractors segment compared to the corresponding period of the previous year.

 

auto.economictimes.indiatimes.com

 

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