Rane Engine Valve Q1 net loss narrows

Rane Engine Valve Ltd. on Thursday reported first-quarter net loss narrowed to ₹5.8 crore, from ₹16.3 crore a year earlier.

Total revenue more than doubled to ₹76 crore.

“Q1FY22 was an eventful quarter with the country weathering the second wave of coronavirus,” said L. Ganesh, chairman, Rane Group.

“Demand environment in India looks encouraging for the upcoming quarter,” he added.

“Commodity price rise remains a concern. Despite the challenges, the management continues to implement cost-reduction and operational-improvement steps to progress on the turnaround plan,” said Mr. Ganesh.


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