CHENNAI:
Rane Holdings
, the holding company of
Rane Group
, reported a consolidated net profit of Rs 38.4 crore for Q4FY24 compared to a loss of just over Rs 8 crore in the year-ago quarter. Total
revenue
was Rs 874.4 crore for Q4FY24 down nearly 8% compared to just over Rs 948 crore in Q4FY23.
EBITDA
stood at Rs 87.6 crore compared to just over Rs 114 crore during Q4FY23, a decrease of 23.4%.
EBITDA margin at 10% was also lower than the 12.1% clocked in Q4FY23.
For the full financial year, net profit stood at Rs 149.6 crore compared to Rs 87.3 crore in FY23, an increase of 71.4%. Total revenue was flat -- Rs 3,544 crore for FY24 compared to Rs 3,537.5 crore in FY23, an increase of 0.2%. EBITDA stood at Rs 335.6 crore for FY24 compared to Rs 348.6 crore during FY23, a decrease of nearly 4%. EBITDA margin was marginally lower at 9.5% for FY24 against 9.9% in FY23.
The company announced a dividend of Rs 25 per equity share on the paid up capital of 1,42,77,809 shares of Rs 10 each. In the fourth quarter, sales to OE customer grew 5% thanks to demand from two wheelers and passenger vehicle segments. Sales to aftermarket customers grew 6%.
“Export sales decreased by 14% predominantly on account of divestment of LMCA (Rane Light Metal Casting Inc, USA) business,” said the company in a statement.
“On an organic basis it declined by 1%. EBITDA margin decreased by 204 bps mainly due to certain one-off provisions and forex gain in Q4FY23.”
English (US) ·