February 10 2016, 16.53 PM IST || Pocket News Alert
· Sales & Operating Income at Rs.568.41 Crores
· EBIDTA at Rs.58.93 Crores
· Profit After Tax at Rs.11.36 Crores
Mumbai,10th February 2016: Rane Holdings Limited, (NSE Code : RANEHOLDIN, BSE Code : 505800), holding company of Rane Group and one of the leading Auto Component manufacturing group in the country, announced its Unaudited Consolidated financial results today for the quarter ended December 31, 2015. The Company registered a Consolidated Sales & Operating Income of Rs. 568.41 Crores for the current quarter as against Rs. 497.14 Crores for the same quarter of the previous year
During the third quarter (Oct’15 to Dec’15), the Passenger Vehicles segment achieved a moderate growth over the same period last year mostly driven by Utility Vehicles. In the Commercial Vehicle segment, Medium & Heavy Commercial Vehicles (M&HCV) and Light Commercial Vehicles (LCV) segments continued to register a robust growth while Small Commercial Vehicle (SCV) segment remained negative over the same period last year. The Two-wheeler segment registered a marginal growth whereas three-wheeler continued to decline over the same period last year. The Farm Tractor segment continued to remain sluggish as compared to the corresponding period of the previous year.
The summary of financial performance is given below:
Exceptional items include:
a) Profit on sale of land by Rane Engine Valve Limited (REVL), a subsidiary company, of Rs.27.54 crores for the nine months ended December 31, 2015
b) Expenditure towards Voluntary Retirement Scheme (VRS) incurred at some of the group companies amounting to Rs. 2.48 crores for the quarter ended December 31, 2015 and Rs. 13.23 crores for the nine months ended December 31, 2015. For the quarter/ nine months ended December 31, 2014 the expenditure towards VRS were Rs.0.46 crores and Rs. 1.19 crores respectively.
** Figures for the quarter/nine months ended 2015-16 include those relating to erstwhile Kar Mobiles Limited (KML), which was amalgamated with our subsidiary company REVL, pursuant to the Scheme of Amalgamation with effect from April 1, 2014. The results for the quarter/nine month ended 2014-15 are not comparable with the figures for the quarter/nine months ended 2015-16,since the figures for the quarter/ nine months ended 2014-15 includes KML's share of profit as an associate.
