Rane Holdings consol Q2 net up threefold to ₹185 cr.

Rane Holdings Ltd., (RHL) consolidated net profit for the September quarter more than threefold to ₹185 crore from the year-earlier period.

Revenue from operations contracted to ₹917 crore from ₹928 crore, the auto components maker said in a statement.

While revenue from Indian aftermarket segment increased by 5%, it declined by 3% in the case of Indian original equipment customers and due to lower offtake from farm tractors and commercial vehicle customers.

Revenues from international customers decreased 10% predominantly on account of divestment of LMCA business. On an organic basis it declined by 2%.

Exceptional items mainly represent amount received by Rane Steering Systems towards settlement of various claims as well as gain arising from the remeasurement of the existing stake of RSSL at fair value.