Chennai :  Rane Holdings Limited,  the investment arm of the RANE Group of companies who are leading auto components manufacturers in the country, announced its Unaudited Consolidated financial results today for the quarter ended 31^st December, 2012. The Company registered              a Consolidated Sales & Operating Income of Rs.476.73 Crores for the current quarter as against Rs.461.10 Crores for the same quarter of the previous year.

The Automobile markets in India continued to remain challenging this quarter.    Rane Group companies’ sales during the current quarter were affected due to negative growth in Medium & Heavy Commercials and flat growth in passenger car and Farm Tractor segment. The grim situation on Power availability in Andhra Pradesh & Tamil Nadu coupled with increase in diesel prices impacted production costs significantly.

The summary of financial performance is given below:-

(Rs. Crores)

*  Includes an exceptional item of (i) Profit on sale of land of Rs. 16.27 Crores and (ii) amount  paid to employees under VRS scheme of Rs.3.68 Crores by Rane Engine Valve Ltd., a subsidiary company .

Rane Holdings Limited has declared an interim dividend of Rs.3.50 per equity share on the paid up capital of 1,42,77,809 equity shares of Rs.10/- each for the year ending March 31, 2013.  This would be payable to eligible shareholders as on the Record Date viz., February 16, 2013.