Rane Engine Valve LTD Records Growth OF 10.9% IN Profits

Rane Engine Valve Limited (REVL), (NSE Code :RANEENGINE / BSE code :532988), part of Rane Group which is one of the leading Auto Component Groups in the country announced the financial results for the quarter ended September 30, 2009 today.

Financials:
Rs. crores
July 09 to Sep 09 July 08 to Sep 08 Growth (%)
Revenue 54.99 60.61 (9.3)%
PAT 0.51 0.46 10.9%

The company achieved 6% and 3% growth in domestic Replacement and OE market respectively. Exports were down by 34%. The company exports mainly to European markets, which were significantly affected due to Economic slowdown. In addition, there have been Industrial Relation issues in two of the plants affecting the performance for the quarter.