Rane Brake Lining Limited,a leading manufacturer of Brake Linings, Disc Pads and Clutch Facings, Monday today announced financial performance for the first quarter (Q1FY24) ended June 30, 2023.
Total revenue for Q1 FY24 increased by 7.9% to INR 153.1 crore compared to INR 141.9 crore in Q1 FY23.EBITDA stood at INR12.3 crore compared to INR 12.5 crore during Q1 FY23, a decrease of 1.3%, the company said in a media release.EBITDA margin was at 8.1% for Q1 FY24 against 8.8% for Q1 FY23
PAT stood at INR 5.2crore for Q1 FY24 compared to INR 5.8 crore in Q1 FY23, a decrease of 10.5%.
Sales to OE customers, mainly from the two-wheeler segment, grew 8%, and sales to the aftermarket customers grew 10%.
EBITDA margin dropped by 75 bps owing to the unfavourable forex rates and increase in employee expenses, the release said.
L. Ganesh, Chairman, Rane Group, said, “The favourable demand environment in Q1 FY 24 helped RBL sustain the growth momentum. Demand across major vehicle segments remains robust. We are closely monitoring the evolving economic indicators and continuing to prioritise cost reduction and operational improvement programmes in the upcoming quarter.”
