Rane Holdings Reports Strong Q1 Performance with Consolidated Profit of Rs 5,749 Lakhs
Rane Holdings Limited announced robust quarterly results with consolidated revenue of Rs 1,34,082 lakhs and profit of Rs 5,749 lakhs. The consolidated EPS was Rs 35.57. Results included exceptional income of Rs 1,546 lakhs from land sale and insurance claims. Rane (Madras) Limited, a subsidiary, agreed to sell 3.48 acres of land for Rs 36,118 lakhs. The Board approved a Rs 5,000 lakhs investment in Rane Steering Systems Private Limited.
Rane Holdings Subsidiary Sells Tamil Nadu Land for ₹50.50 Crore
Rane Steering Systems Private Limited (RSSL), a wholly-owned subsidiary of Rane Holdings Limited, has sold a 3.995-acre land parcel in Chengalpattu, Tamil Nadu, to Estancia IT Park Private Limited for ₹50.50 crore. The transaction, set to occur on April 04, 2025, aligns with Rane Holdings' strategy to monetize non-core assets. The company has informed stock exchanges about the sale, confirming it's not a related party transaction. This move is expected to optimize Rane Holdings' asset portfolio and potentially free up capital for core operations or strategic investments.