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Rane (Madras) Ltd has weakened by more than 6% this morning after posting a weak set of numbers or FY2014-15.
The company reported a 26% decline in net profit to Rs 12.44 crore for the financial year 2014-15, as against Rs 16.78 crore in the previous fiscal.
Sales, however, rose by 7% to Rs 778.88 crore in the fiscal 2014-15, compared with Rs 726.60 crore in the previous year. Sales in the domestic market and the export market grew by 5% and 11% respectively.
Rane (Madras) Ltd, a part of Rane Group of companies, manufactures auto components, including steering and suspension linkage products and steering gears.
