Rane (Madras) posts Q3 net at Rs 3.19 crore

Rane (Madras) Ltd, part of the Rane Group,manufacturers of auto-components, has registered a 26.5 per cent rise in net profit for the December quarter at Rs 3.19 crore.
The Chennai-based company had registered a net profit of Rs 2.52 crore during the corresponding quarter of the previous year, Rane (Madras) Ltd said in a statement.
For the nine months period ending December 31, the net profit remained flat at Rs 10.01 crore as against Rs 10.05 crore registered during year ago period.
Total income from operations for the quarter ending December 31, grew to Rs 204.51 crore from Rs 196.85 crore.

For April-December period net profit went toRs 623.58 crore from Rs 568.33 crore.
The Board of Directors at its meeting have approved the acquisitionof US-based Precision Die Casting through its subsidiary subject to completion of necessary approvals. Precision Die Casting was in the business of manufacturing high pressure aluminum die-castings for automotive applications.The company has registered revenue of USD 29 million in 2014-15.