Cummins India reports flat Q4 PBT, record sales for FY2019

Diesel and gas engine major Cummins India has reported profit before tax of Rs 209 crore in the quarter ended March 31, 2019, which is flat compared to the same quarter last year and lower by 23 percent compared to Rs­­ 270 crore recorded in the preceding quarter.

Profit before tax for the year ended March 31, 2019 stood at  Rs 1,030 crore, a 21 percent growth compared to Rs 852 crore in 2017-18, excluding the gain on sale of real estate of Rs. 56 crore in that year.

Net sales for the quarter ended March 31, 2019 stood at Rs 1,314 crore, a 9 percent growth over Rs 1,206 crore recorded in the same quarter last year, but a decline of 10 percent compared to Rs 1,463 crore posted in the preceding quarter. Net sales for the year ended March 31, 2019 are the highest ever sales at Rs 5,526 crore, up 12 percent compared to Rs 4,952 crore recorded in the previous year.

Domestic sales during Q4 stood at Rs 992 crore, a 22 percent growth over the same quarter last year but declined 3 percent from the preceding quarter. Domestic sales for the year ended March 31, 2019 were Rs 3,873 crore, a 15 percent growth over the previous year, and represent a new high. Exports for the current quarter at Rs 322 crore declined 17 percent over the same quarter last year and 27 percent over the preceding quarter. Revenue from exports for the year ended March 31, 2019 stood at Rs. 1,652 crore, a 5 percent growth over the previous year.

“I would like to congratulate all our shareholders for our record sales and record profit in this year. We also registered record sales in our domestic business with continuing momentum from the government’s increased investments in creating infrastructure for the economy as well as our efforts towards market share growth in segments we serve. All three segments in our domestic business – Industrial, Powergen and Distribution registered strong growth. We are confident on the medium to long term outlook for our domestic sales," said Sandeep Sinha, managing director, Cummins India.

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