Rane (Madras) zooms 20% on robust Q3 results

The stock locked upper circuit of 20% at Rs 863, also its all-time high on BSE, after the company reported four-fold jump in net profit at Rs 142 million in December 2017 quarter.

Rane (Madras) is locked in the upper circuit of 20% at Rs 863, also its all-time high on BSE, after the company reported four-fold jump in net profit at Rs 142 million in December 2017 (Q3FY18) quarter.

The company, a leading manufacturer of steering and suspension products and die casting components, had profit of Rs 34 million in the same quarter year ago.

Total net revenue increased by 31.7% to Rs 3.19 billion for Q3FY18 as compared to Rs 2.42 billion in Q3FY17. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 337 basis points at 12.1%