Auto component manufacturer Rane (Madras) Ltd, part of the Rane Group, reported 26.2% jump on net profit for the Q1 ending June 30th 2011.

The city headquartered company reported PAT at INR 5.82 crore, up by 26.2% from INR 4.61 crore registered during the same period last year. Sales and operating revenues during the quarter grew to INR 153.66 crore from INR 131.54 crore during the same period of previous year.

The company in a statement said that "In first quarter of the current fiscal, production by all Original Equipment Manufacturers in the auto industry grew by about 20% in comparison with the corresponding quarter of last year, resulting in corresponding growth in customer demand.”

(Sourced from ET)