ALSO READRane Holdings zooms 57% in twelve sessions Rally in Rane Holdings halts on profit booking Rane Holdings gets re-affirmation in credit ratings Rane Holdings consolidated net profit rises 89.42% in the June 2017 quarter Rane Holdings standalone net profit rises 61.81% in the June 2017 quarter
Rane Holdings Ltd, part of the diversified conglomerate Rane Group, today reported consolidated net profits at Rs 37.50 crore for the second quarter ending September 30, 2017. The city-based company, in a BSE filing, had reported consolidated net profits at Rs 97.95 crore during corresponding period of previous year. For the half-year period ending September 30, 2017 consolidated net profits stood at Rs 73.48 crore as compared to Rs 116.94 crore registered during year ago period. The consolidated total revenue of the company stood at Rs 562.03 crore as against Rs 567.31 crore registered during year ago period. For the half-year period ending September 30, 2017 consolidated total revenues were at Rs 1,100.64 crore as compared to Rs 1,104.26 crore registered during same period of previous year. "Rane Group companies capitalised on the favourable market environment and delivered robust revenue growth.
With the strong operational performance, the group companies improved profitability," company Chairman and Managing Director L Ganesh said. "We are still working on improving the operational performance in certain businesses. We expect the market environment to remain favourable in the coming quarters," he said. Shares of the company ended at Rs 1,917.50 apiece up by 7.49 per cent over the previous close in BSE.
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