Rane Brake Lining Ltd. (RBL) has reported a more than threefold increase in its standalone net profit for the first quarter to ₹5.8 crore on higher volumes and improved operational performance.
Revenue from operations grew by 48% to ₹139 crore, it said in a regulatory filing.
Sales to OE customer grew 36% and to aftermarket customers by 93%. However, commodity price increase limited the profitability improvement.
“RBL benefited from the favourable demand environment across the market segments” L. Ganesh, chairman, said. “Demand environment in India looks encouraging for the upcoming quarter. We remain cautiously optimistic given the evolving economic situation.”
Shares of the company lost ₹26.20 or 3.53%% to close at ₹716.10 on the BSE Tuesday.
