Rane Engine Valve Ltd Reports Impressive Profit Surge

Rane Engine Valve Ltd announced a significant profit rise of 287.7% for Q2 2024, reaching Rs 5.7 crore. Improved domestic sales and cost-saving measures bolstered the company's performance despite a dip in exports. Revenue for the quarter increased to Rs 147.6 crore.

A remarkable financial achievement was reported by Rane Engine Valve Ltd, as the company's profit after tax for Q2 2024 soared by 287.7% to Rs 5.7 crore. This marks a stark contrast to the Rs 1.5 crore recorded in the same period last year, showcasing notable business growth.

The Hyderabad-based engine valve manufacturer also saw a 152.7% surge in profit after tax for the first half of the year, reaching Rs 8.1 crore. This improvement was aided by a 12% rise in sales to Indian Original Equipment customers, primarily driven by strong demand in the passenger vehicle sector.

Despite a 9% decline in overseas sales due to weak export demand, the company's revenue for Q2 2024 climbed to Rs 147.6 crore. Cost-saving initiatives and favorable material prices contributed to a significant 501 basis points increase in the EBITDA margin, according to company officials.

(With inputs from agencies.)