Cummins India Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year and Consolidated Earnings Results for the Year Ended March 31, 2018; Provides Capex Guidance for the Year 2019
May 24, 2018 at 07:50 am EDT
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Cummins India Limited reported audited standalone and consolidated financial results for the fourth quarter and consolidated financial results for the full year ended March 31, 2018. For the quarter, the parent company reported total income of INR 12,996.0 million against INR 13,186.2 million a year ago. Profit before tax was INR 2,087.5 million against INR 1,953.9 million a year ago. Profit after tax and share of profits of joint ventures and associate was INR 1,612.2 million against INR 1,584.6 million a year ago. Earnings per share on basic and diluted basis were INR 5.82 against INR 5.72 a year ago.
For the year, the parent company reported total income of INR 53,895.3 million against INR 56,367.3 million a year ago. Profit before tax was INR 8,523.0 million against INR 9,082.4 million a year ago. Profit after tax and share of profits of joint ventures and associate was INR 7,084.7 million against INR 7,346.3 million a year ago. Earnings per share on basic and diluted basis were INR 25.56 against INR 26.50 a year ago.
For the year, the group reported total income of INR 53,517.6 million against INR 55,987.4 million a year ago. Profit before tax was INR 7,846.5 million against INR 8,430.1 million a year ago. Profit after tax and share of profits of joint ventures and associate was INR 7,118.2 million against INR 7,362.7 million a year ago. Earnings per share on basic and diluted basis were INR 25.88 against INR 26.56 a year ago.
For the year 2019, the company expected Capex to be in range of INR 3,500 million to INR 4,000 million. Guidance is a growth of 8 to 10%.
Cummins India Limited is an India-based manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets. The Company's business units include engine, power systems and distribution. Its engine business manufactures engines from 60 horsepower (HP) for low, medium and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor. Its power systems business designs and manufactures horsepower engines from 700 HP to 4500 HP for marine, railways, defense and mining applications as well as power generation systems comprising of integrated generator sets in the range of 7.5 kilovolt amperes (kVA) to 3750 kVA including transfer switches, paralleling switchgear and controls for use in standby, prime and continuous rated systems. Its distribution business provides products, packages, services and solutions for uptime of its equipment. Its digital products include Acumen, Incal and Inline.
Cummins India Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year and Consolidated Earnings Results for the Year Ended March 31, 2018; Provides Capex Guidance for the Year 2019