Rane Holdings LTD-Impressive Growth Of 165% in Consolidated Profits

Rane Holdings Limited (RHL), (NSE Code :RANEHOLDIN, BSE code :505800), Holding company of Rane Group which is one of the leading Auto Component manufacturers in the country announced the financial results for the quarter ended September 30, 2009 today

The domestic auto industry registered a healthy growth in all segments except medium and heavy commercial vehicles. The export markets which are mainly US and Europe continued to be extremely weak. All the major companies in the Group improved their financial performance through focus on cost management initiatives. Lesser volatility in commodity prices and foreign exchange also helped achieve this

Amalgamation of subsidiary:
During the period, the Hon’ble High Court of Madras vide its order dated 29th September, 2009, approved the amalgamation of wholly owned subsidiary viz., Rane Investments Limited with the company effective 01.04.2009.