Rane Engine Valve Limited has reported a loss of Rs 0.5 crore for the quarter ended 30th September, 2013 as compared to loss of Rs 3.5 crore, a year ago.
Company's sales and operating income rose marginally to Rs 66 crore for the current quarter as against Rs 64.3 crore for the same quarter of the previous year. Though domestic sales declined by 3%, export markets grew by 12% over the same quarter last year.
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.
Rane is part of art of Rane Group and leading auto components manufacturers of Engine Valves, Guides & Tappets.
