Rane Holdings Ltd., the holding company of the Rane Group, returned to profit with a consolidated net profit of ₹39 crore for the quarter ended December on growing demand for its products.
It had posted a net loss of ₹3 crore in the year-earlier period. Revenue from operations rose 23% to ₹644 crore. The results also include an exceptional gain of ₹23.49 crore from profit on sale of land by Rane Engine Valve Ltd., it said. “We remain cautiously optimistic on the demand environment,” said L. Ganesh, CMD.
