Rane Brake Lining Ltd.’s (RBL) standalone net profit for the quarter ended March contracted 8% to ₹12 crore from the year-earlier period. Revenue from operations grew 7% to ₹165 crore, while cost of materials increased 2% to ₹86 crore, the brake linings and disc pads manufacturer said in a regulatory filing.
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Sales to original equipment customers grew 3%. Though the demand remained strong, there was a slightly slower growth due to inventory correction at the customer end. Sales to aftermarket customers grew 14%.
“Though we see slowdown in major global economies, the growth momentum across vehicle segments in India continues to remain strong. We navigate this macro environment scenario cautiously prioritising operational improvement and cost reduction measures,” said Rane group chairman L. Ganesh.
The board recommended a dividend of ₹25 per share, which will be paid by August 3.