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Cummins India Q2 profits up by 38pct

Auto News - Published on Fri, 02 Nov 2018

Image Source: Moneycontrol
Economic Times reported that auto component maker, Cummins India reported an increase of 38.3 per cent in its standalone profit after tax at INR 211.56 crore for the second quarter ended September 30, 2018. The company’s standalone profit for the same period last fiscal stood at INR 152.90 crore. Net revenue from sales operations grew 30 per cent at INR 1,451.55 crore during the period under review as compared to INR 1,118.43 crore in the same period last year.

Mr Sandeep Sinha, Managing Director, Cummins India Limited, said that “Domestic sales in the current quarter at INR 1,003 crore was the highest ever recorded. This is due to strong demand across all our three markets – Industrial, Powergen and Distribution. In this quarter we were also able to overcome certain execution constraints that we had encountered in the previous quarter. We are confident on the medium to long term outlook for domestic sales as underlying demand remains positive, arising from sustained investments by the government in creating infrastructure for the Indian economy.”

Domestic sales in the current quarter are highest achieved at INR 1,003 crore, which grew by 34% over the same quarter last year and grew by 17% over the preceding quarter.

According to Mr Sinha, exports revenue improved for this quarter, growing 21 per cent over the comparable quarter in the previous year and by 2 per cent over the preceding quarter; as they have seen some recovery in the certain global Powergen market like Middle East and Africa.

He further added that “We continue to be positioned to outperform in our industry and are investing judiciously in product enhancements, increasing our customer focus, while maintaining strong controls over our cost of operations, improved productivity and quality and positioning ourselves strongly to continue delivering value to all our stakeholders.”

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Posted By : Joykumar Irom on Fri, 02 Nov 2018
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