Thursday, 3 August 2017

Cummins India Limited Announces Results for First Quarter 2017-18

By 121 News

Chandigarh 03rd August:- 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, 2016at1,388crores increased 5% as compared to the same period last year and 12% compared to the prior quarter.  Domestic sales grew10% as compared to the same period last year and 6%compared to the prior quarter.  Exports declined5% as compared to the same period last year butimproved31%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 that 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 which 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.