Rane Holdings net and dividend down

Chennai, May 28 (IANS) City-based Rane Holdings Ltd. closed the last fiscal with a total revenue of Rs.1,935.96 crore and a net profit of Rs.38.38 crore, as against the previous year’s figures of Rs.1,861.71 crore and Rs.71.72 crore respectively, the company said Tuesday.

The Rane Holdings board has recommended a final dividend of 45 percent, the company said in a statement here. Together with the interim dividend of 35 percent already paid, the total dividend for the last fiscal comes to 80 percent, down from 100 percent declared the previous fiscal.

The holding company of Rane Group said the domestic automotive industry logged growth only in the utility and light commercial vehicle segments in the last fiscal.

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