Rane Holdings profit rises on higher offtake

Rane Holdings Ltd. has posted 22% increase in standalone net profit for the fourth quarter ended March 2019 to ₹16.96 crore on higher offtake across major vehicle segments.

Total revenue rose to ₹30.14 crore from ₹28.31 crore. Revenue from lndian original equipment customers grew 11%, from international customers 18% and lndian aftermarket segment 12%.

The board declared a final dividend of ₹11 per share. It also recommended the appointment of Harish Lakshman, vice chairman, as joint MD for five years from August 1 subject to shareholders approval.

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