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Rane Brake Lining Ltd. stated standalone web revenue for the third quarter slumped 47% to ₹6.9 crore attributable to a decline in gross sales quantity. Income from operations grew 1% to ₹134 crore. Gross sales income from OEM prospects grew 2% and that from after-market prospects remained flat, it stated in an announcement. “Q3 was a difficult quarter with semiconductor scarcity impacting the availability chain and elevated commodity costs lowering the profitability,” stated L. Ganesh, chairman.
“The corporate is engaged on value discount initiatives to mitigate the inflationary pressures. We hope the third wave of coronavirus in India doesn’t adversely impression the demand atmosphere,” he stated.
Supply- thehindu