8 Feb 2022 , 03:23 PM
Rane Holdings Limited on Tuesday announced financial performance for the third quarter (Q3FY22) and nine months (9MFY22) ended December 31, 2021. Total consolidated revenue was Rs703.2cr in Q3FY22 compared to Rs673.6cr in Q3FY21, an increase of 4.4%. EBITDA stood at Rs58.5cr compared to Rs77.7cr during Q3FY21, a decrease of 24.7%. EBITDA Margin at 8.3% for Q3FY22 against 11.5% in Q3FY21.
Profit Before Tax (PBT) stood at Rs18.5cr for Q3FY22 compared to Rs64.3cr in Q3FY21, a decrease of 71.3%. Profit After Tax (PAT) at Rs10.6cr in Q3FY22 compared to Rs39.3cr in Q3FY21, a decline of 73.2% yoy.
Towards close of trade on Tuesday, Rane Holdings Ltd was trading at Rs589 per share down by Rs9.25 or 1.55% from its previous closing of Rs598.25 per share on the BSE.
Total Revenue of the Rane Group was Rs1,392.4cr in Q3FY22 compared to Rs1,368.4cr in Q3FY21, an increase of 1.8%. EBITDA stood at Rs94cr compared to Rs149.8cr during Q3FY21, a decrease of 37.3%. EBITDA Margin at 6.7% for Q3FY22 against 10.9% in Q3 FY21. Loss before tax stood at Rs15.7cr for Q3FY22 compared to PBT of Rs58.9cr in Q3FY21, a decrease of 126.6%.
Group Operational Performance Q3FY22
“Q3 was a challenging quarter with semiconductor shortage impacting the supply chain and elevated commodity prices reducing the profitability. The Group companies are working on cost reduction initiatives to mitigate the inflationary pressures. We hope the third wave of coronavirus in India does not adversely impact the demand environment,” said L. Ganesh, Chairman & Managing Director, Rane Holdings Ltd.
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