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Rane Holdings, the holding company of the Rane Group, has reported a consolidated profit after tax at ₹17 crore for the quarter ended September 30, 2021, compared with ₹5 crore in the year-ago period.
Total net revenue of the company grew by 33 per cent at ₹697 crore when compared with ₹524 crore.
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EBITDA stood at ₹47.2 crore as against ₹50 crore in the same period last year, a decrease of 6 per cent. EBITDA margin fell to 6.8 per cent from 9.6 per cent.
Profit before tax more than doubled at ₹27.1 crore for Q2 FY22 as compared to ₹13.2 crore in Q2 FY21, according to a statement.
‘Inflationary pressures’
Rane Group Companies’ total net revenue grew by 30 per cent to ₹1,227.6 crore in Q3 of this fiscal from ₹ 947.4 crore in the corresponding period last fiscal. PBT stood at ₹100.5 crore as against ₹ 45 crore.
For the half-year ended September 30, 2021, Rane Group Companies’ total net revenue grew by 30 per cent to ₹1,395 crore in as compared to ₹1,073 crore in the corresponding period last fiscal. PBT (which includes exceptional items) stood at ₹45.5 crore as against ₹15 crore.
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“The group companies experienced strong growth across market segments. Increase in commodity prices impacted the profitability. Demand revival continues to be strong. However, the supply constraints due to semiconductor shortage remain a concern. The businesses are working on cost reduction initiatives to mitigate the inflationary pressures,” L Ganesh, Chairman & Managing Director, Rane Holdings Ltd, said.