Rane Holdings logs 26% yoy revenue growth to Rs883 crore in Q2FY23; Stock soars 1%

31 Oct 2022 , 09:17 AM

Rane Holdings Limited, the holding Company of Rane group has announced financial performance for the second quarter (Q2FY23) and six months (H1FY23) ended September 30, 2022.

Consolidated Q2 FY23 Performance

• Total Revenue was Rs883.8 crore in Q2 FY23 compared to Rs697.3 crore in Q2 FY22, an increase of 26.7%
• EBITDA stood at Rs66.8 crore compared to Rs47.2 crore during Q2 FY22, an increase of 41.5%
• EBITDA Margin at 7.6% for Q2 FY23 against 6.8% in Q2 FY22
• PAT stood at Rs23.3 crore for Q2 FY23 compared to Rs16.5 crore in Q2 FY22, an increase of 41.1%

Consolidated H1 FY23 Performance

• Total Revenue was Rs1,704.9 crore in H1 FY23 compared to Rs1,223.1 crore in H1 FY22, an increase of 39.4%
• EBITDA stood at Rs124.8 crore compared to Rs70.6 crore during H1 FY22, an increase of 76.8%
• EBITDA Margin at 7.3% for H1 FY23 against 5.8% in H1 FY22
• PAT stood at Rs43.9 crore for H1 FY23 compared to Rs37.3 crore in H1 FY22, an increase of 17.8%

“The group companies posted strong revenue growth supported by favourable demand from Indian OE and Export customers. Higher volumes and improved operational performance helped to mitigate material price increases.

The demand environment remains strong with the ongoing festive season, however we remain cautious given the global economic situation and tightening monetary policy”, said L Ganesh, Chairman & Managing Director, Rane Holdings Limited.

At around 9:17 AM, Rane Holdings was trading at Rs922.30 per share higher by 1.35% on the BSE.

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