October 26, 2017
Cummins India Limited Results for Q2 2016-17
Phaltan, India: The Board of Directors of Cummins India Limited, in their meeting held today, took on record the unaudited financial results for the quarter and the half year ended September 30, 2016.
Gross sales of the Company for the quarter ended September 30, 2016 a t ₹ 1,331 crores grew 5% as compared to ₹ 1,262 crores recorded in the same period last year, and grew 1% compared to ₹ 1,317 crores recorded in the preceding quarter. Gross sales for the half year ended September 30, 2016 were ₹ 2,648 crores which is marginally lower over same period last year's sales of ₹ 2,651 crores due the decline in exports.
Domestic sales in the current quarter at ₹ 885 Cr grew by 8% over same period last year and declined 2% over the preceding quarter. Domestic sales for the half year at ₹1,790 crores grew 7% over the same period last year. Exports for the current quarter at ₹ 446 crores grew 1% over the same period last year and 8% over the preceding quarter. Exports for the half year ended at ₹859 crores which represented a decline of 12% over the same period last year.
Net profit before tax in the second quarter at ₹ 243 crores is 1% higher as compared to ₹ 240 crores recordedin the same period last year, and grew8% compared to ₹ 225 crores recorded in the preceding quarter. Net profit before tax for the half year ended September 30, 2016 declined by 6 percent to ₹ 468 crores as compared to ₹ 498 crores in the same period last year.
Anant J. Talaulicar, Chairman & Managing Director, Cummins India Limited, said, "Our second quarter results indicate that while the Indian economy is recovering, the recovery is not robust yet. Also our exports continue to face headwinds due to the macroeconomic situation. We continue to make inroads and gain market share domestically. Government led investments in roadways and railways continued to drive our sales growth in the industrial engine segments. Despite exports revenues remaining depressed, our strong
focus on cost optimization and efficiency improvement has helped the Company sustain its profitability.
We remain optimistic about future growth opportunities, largely owing to infrastructure investments by the government that are expected to sustain, the impending introduction of GST and the better than average monsoon. The Company remains committed to investing in customer-centric,fit-for-market products and technologies as well as in leadership and diverse talent development to continue delivering profitable growth in the future."
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 ₹10,262 crores in 2015 and employing over 10,000 individuals.
Cummins India Limited published this content on 27 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 October 2016 10:51:01 UTC.