Chennai-based auto component maker Rane Engine Valve on Tuesday reported a 4% dip in its profit after tax (PAT) for the January-March 2024 quarter at Rs 4.7 crore. The company had reported a PAT of Rs 4.9 crore during the corresponding quarter of last year, as per an official statement.
However, the company clocked total revenue at Rs 151.2 crore for Q4 FY24 compared to Rs 136.5 crore in Q4 FY23, an increase of 10.7%. During the quarter under review, company’s EBITDA stood at Rs 17.7 crore as compared to Rs 16.6 crore during Q4 FY23, an increase of 6.5%.
According to the company, sales to Indian OE customers grew by 14%, supported by strong off-take from passenger vehicle and two-wheeler customers.
For the year ending March 31, 2024, the profit after tax stood at Rs 11.5 crore, compared to loss of Rs 0.1 crore in FY23.
