Pune, INDIA: The Board of Directors of Cummins India Limited, in their meeting held today, took on record the financial results for the quarter ended June 30, 2017.
Gross sales of the Company for the quarter ended June 30, 2016 at ₹ 1,388 crores increased 5% as compared to the same period last year and 12% compared to the prior quarter. Domestic sales grew 10% as compared to the same period last year and 6% compared to the prior quarter. Exports declined 5% as compared to the same period last year but improved 31% compared to the prior quarter.
Net profit before tax (excluding a gain on sale of real estate of ₹ 56 Cr) at ₹ 229 crores have grown 2% compared to same quarter last year, and 17% compared to the prior quarter.
Anant J. Talaulicar, Chairman & Managing Director, Cummins India Limited, said, “In the first quarter of the fiscal year 2017-18, the Company achieved strong domestic revenue growth of 10% as compared to the same quarter last year. The domestic economy continues to grow largely in areas which are positively impacted through continuing government investments in infrastructure.
While exports improved this quarter, we believe there are continued uncertainties in certain economies of the world, to whom we export.
The Company remains optimistic about its growth prospects in the domestic market. We continue to invest in new products, increase our customer focus, accelerate cost reduction, productivity and quality improvements, and thus remained strongly positioned to continue delivering superior value to all our stakeholders.”
About Cummins India Limited
Cummins India Limited, headquartered in Pune since 1962, is the country’s leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.
About Cummins Group in India
Cummins in India, a power leader, is a group of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, air handling, filtration, emission solutions and electrical power generation systems. Its technology and pioneering initiatives are bringing innovative solutions and dependable services at the best possible value to users across the country. Its high performance outlook is based on customer focus, integrity and capability of its people. Part of the US $19.1 billion Cummins Inc., Cummins in India is a Group of seven legal entities across 200 locations in the country with a combined turnover of ₹10,880 crores in 2016 and employing over 10,000 individuals.