Rane Brake Linings drops 12% on disappointing operational performance in Q4

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Rane Brake Linings share price lost 12 percent intraday Monday after disappointing performance on operational front in March quarter.

Revenue from operations in March quarter grew by 13 percent to Rs 142 crore and net profit increased 50 percent to Rs 6 crore compared to year-ago quarter.

EBITDA (earnings before interest, tax, depreciation and amortisation), however, fell 22.7 percent year-on-year to Rs 17 crore and margin contracted by 550 basis points to 12 percent for the quarter ended March 2018.