Cummins India Limited reported a net profit of Rs 420 crore, up by 33% year-on-year (YoY) for the quarter ending June 2024. Meanwhile, the total sales for the quarter stood at Rs 2,262 crore, witnessing an increase of 4% YoY compared to the same quarter last year.
The domestic sales increased by 12% YoY at Rs 1,873 crore compared to the same quarter last year. The export sales, on the other hand, were reported to have decreased by 22% YoY at Rs 389 crore compared to the similar period last year.
Ashwath Ram, Managing Director, Cummins India Limited, said, "For the quarter ending June 30, 2024, CIL domestic revenue was driven by strong domestic demand from all segments, especially from the industrial sector. Powergen revenue was expectedly softer considering the sunsetting of CPCB II norms on June 30, 2024. Export revenue grew 13% over the prior quarter due to an improvement in demand from the end markets."
The oldest and largest entity within the Cummins Group in India, Cummins India Limited is involved in the power generation, aftermarket, and export businesses. The company has a strong manufacturing backbone and boasts six state-of-the-art manufacturing plants, assembly facilities, and distribution facilities.