Auto-component manufacturer Rane Madras Ltd, part of the Rane Group, has registered a sharp decline in its fourth quarter net profit at Rs 2.39 crore.
The Chennai-based company had registered Rs 8.56 crore net profit during the year ago period. For the 12 month period ending March 31, 2015 net profits slipped to Rs 12.44 crore from Rs 16.77 crore registered during corresponding period of previous year, a companystatement said.
Total income from operations for the January-March 2015 period dipped to Rs 210.54 crore from Rs 248.12 crore registered during same period of previous year.
However, for the financial year ending March 31,2015 total income from operations increased to Rs 778.88 crore from Rs 726.60 crore registered year ago period.
The company said the sales of Rane Madras Ltd in domestic market grew by five percent while exports grew by 11 percent last year.
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