Rane Brakes reports Rs 2.80 crore profit

Rane Brake Lining Limited has reported a net profit of Rs 2.80 crore during the quarter ended September 30, 2013 as compared to Rs 0.48 crore, a year ago. company's total sales dropped to Rs 89.09 crore from Rs 82.59 crore.

"The domestic automobile market continued to exhibit negative growth in the quarter with the exception of Passenger Cars (PC) and Farm Tractor segments.  Even the PC segment growth was due to low base effect of previous year," said the company's statement..

Sales to the domestic OEM declined by 4%, however sales to the Aftermarket, Railways and Exports market grew by 15%, 48% and 38% respectively compared to the same quarter of last year.