Rane Brake Lining records 2qtr net at Rs 9.33Cr

: Rane Brake Lining Ltd, part of the Rane Group, has recorded Rs 9.33 crore net profits for the second quarter ending September 30, 2017.
The city-based auto-component manufacturer had recorded net profits of Rs 10.10 crore during the corresponding period last year.
For the half-year period ending September 30, 2017 net profits stood at Rs 16.65 crore against Rs 20.65 crore during the same period last year.
Total revenue for the July-September 2017 quarter was Rs 112.32 crore as against Rs 125.90 crore registered during the year ago period.
For the six month period ending September 30, 2017 total revenue slipped to Rs 226.66 crore from Rs 259.25 crore registered during the year ago period.

"After challenging Q1FY18, we saw demand revival in the aftermarket segment. Favourable material cost and strategic cost savings supported to deliver strong operating margin", Rane Group, Chairman, L Ganesh said.
"We remain cautiously optimistic for H2FY18 as we envisage headwinds on aftermarket demand environment and increasing material costs", he said.