Rain Industries Limited reported unaudited standalone and consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, on standalone basis, reported revenue from operations of INR 330.43 million compared to INR 266.78 million a year ago. Loss before tax was INR 5.26 million compared to profit before tax of INR 7.63 million a year ago. Net loss was INR 5.26 million or INR 0.02 per basic and diluted share of INR 2 each compared to net profit of INR 6.45 million or INR 0.02 per basic and diluted share of INR 2 each a year ago.

For the quarter, on consolidated basis, reported revenue from operations of INR 33,061.95 million compared to INR 25,349.04 million a year ago. Profit before share of profit of associates, exceptional items and tax was INR 4,059.90 million compared to INR 1,717.49 million a year ago. Profit before tax was INR 4,059.90 million compared to INR 1,047.19 million a year ago. Net profit was INR 2,657.05 million or INR 7.47 per basic and diluted share of INR 2 each compared to INR 646.80 million or INR 1.76 per basic and diluted share of INR 2 each a year ago. Adjusted EBITDA was INR 6,621 million compared to INR 4,414 million a year ago. Adjusted net profit after tax was INR 2,512 million compared to INR 1,028 million a year ago. Adjusted earnings per share were INR 7.5 compared to INR 3.1 a year ago. Net debt as at March 31, 2018 was INR 1,034 million.

The company expects tax rate for the year 2018 to be in the range of 33% to 34%, 200 to 300 basis points better than historical rate.