Cummins India Limited, the major division of Cummins in India, was established in 1962 and is the top producer of diesel and natural gas engines there. Engine, Power Systems, and Distribution are the three business units that make up Cummins India Limited, one of the seven legal companies that make up the Cummins Group in India.
Engine maker Cummins India on Thursday reported a 59 per cent increase in standalone profit after tax at Rs 315.7 crore in the June quarter. The Pune-based company had a profit after tax of Rs 198.80 crore in the year-ago period, according to a regulatory filing.
The total income during the reporting quarter stood at Rs 2,326.19 crore, a 30 per cent growth compared to Rs 1,786.76 crore recorded in the same period a year ago.
In a statement, the company said domestic sales during the June quarter stood at Rs 1,677 crore, a 43 per cent increase compared to the same quarter last year. Exports volumes grew 3 per cent year-on-year at Rs 498 crore.
Ashwath Ram, Managing Director of Cummins India, said, “post the quarter that ended June 30, 2023, the company launched products duly certified to meet the new emissions norms in the Powergen segment”.
On the outlook, he said the geo-political and supply chain conditions continue to be unpredictable.
“The company is well-positioned to tackle challenges and leverage growth opportunities considering a strong balance sheet, continued prudent capital allocation and cost management.
“We remain optimistic about the prospects of the company’s continued profitable growth,” he added.
